Markets
Economic recovery in United Kingdom resumes in July
- September 13, 2020
UK GDP rose by 6.6% in July, though this was less than the 8.7% growth recorded in June. Gross domestic product expanded 6.6 percent in July from June, when it gained 8.7 percent. The EY ITEM Club predicted that economy may maintain momentum in August, being on course of strong bounce back in the third quarter (Q3) from a contraction in the second one (Q2). (more...)
- September 13, 2020
UK GDP rose by 6.6% in July, though this was less than the 8.7% growth recorded in June. Gross domestic product expanded 6.6 percent in July from June, when it gained 8.7 percent. The EY ITEM Club predicted that economy may maintain momentum in August, being on course of strong bounce back in the third quarter (Q3) from a contraction in the second one (Q2). (more...)
Britain inks trade deal with Japan as talks with European Union flounder
- September 13, 2020
The EU has reportedly threatened the United Kingdom with economic, agricultural and trade sanctions if ministers refuse to back down from their plans to abandon parts of the Brexit withdrawal agreement. "We have never in recent history - or, maybe in ancient history dealing with other countries - seen such a renegement on an agreement", Ireland's Europe Minister, Thomas Byrne, said. (more...)
- September 13, 2020
The EU has reportedly threatened the United Kingdom with economic, agricultural and trade sanctions if ministers refuse to back down from their plans to abandon parts of the Brexit withdrawal agreement. "We have never in recent history - or, maybe in ancient history dealing with other countries - seen such a renegement on an agreement", Ireland's Europe Minister, Thomas Byrne, said. (more...)
Tesla plans to start shipping out cars made at Shanghai factory
- September 13, 2020
Tesla's fourth electric vehicle factory under construction near Berlin , Germany , could end up hiring four times the staff now employed at Fremont in the United States, with eight Giga Presses stamping out parts for the Model Y. The company began manufacturing Model 3's higher-end version in China and hasn't stopped after reopening its factory in Fremont. Tesla is planning to open at least one more inner-city fast charging site in Germany before the end of the year. (more...)
- September 13, 2020
Tesla's fourth electric vehicle factory under construction near Berlin , Germany , could end up hiring four times the staff now employed at Fremont in the United States, with eight Giga Presses stamping out parts for the Model Y. The company began manufacturing Model 3's higher-end version in China and hasn't stopped after reopening its factory in Fremont. Tesla is planning to open at least one more inner-city fast charging site in Germany before the end of the year. (more...)
Son X इल A-12’s name forgotten Ilon Musk
- September 13, 2020
During the press conference, one interviewer asks Musk, who looks very confused: 'how is X Æ A-12?' The unusual name has been a talking point since it was announced, largely because people didn't really have a clue how to say it. Elon Musk's son, "Ex", in simple terms, is the Tesla CEO and Canadian musician, singer-songwriter, Claire Boucher, also known as her stage name, 'Grimes,' nearly four-month-old newborn. (more...)
- September 13, 2020
During the press conference, one interviewer asks Musk, who looks very confused: 'how is X Æ A-12?' The unusual name has been a talking point since it was announced, largely because people didn't really have a clue how to say it. Elon Musk's son, "Ex", in simple terms, is the Tesla CEO and Canadian musician, singer-songwriter, Claire Boucher, also known as her stage name, 'Grimes,' nearly four-month-old newborn. (more...)
Maserati hints at mind-blowing all-electric MC20 super sports vehicle
- September 13, 2020
As far as aerodynamic specifics are concerned, the brand called for some help from Dallara, with the chassis honed through a process that included 3,000 hours of intensive work - 1k of them spent in front of computers for CFD (Computational Fluid Dynamics) simulations, and the rest in the Dallara wind tunnel. (more...)
- September 13, 2020
As far as aerodynamic specifics are concerned, the brand called for some help from Dallara, with the chassis honed through a process that included 3,000 hours of intensive work - 1k of them spent in front of computers for CFD (Computational Fluid Dynamics) simulations, and the rest in the Dallara wind tunnel. (more...)
‘Zomato raises $104 million in fresh funding, to launch IPO in 2021’
- September 13, 2020
Some of Zomato's ex-employees have sold nearly $30 million worth of shares to investors at an average premium of about four times to what the shares were allotted to them, Goyal said in the email, which was first reported by the Economic Times . (more...)
- September 13, 2020
Some of Zomato's ex-employees have sold nearly $30 million worth of shares to investors at an average premium of about four times to what the shares were allotted to them, Goyal said in the email, which was first reported by the Economic Times . (more...)
Amazon To Boost Hiring With Career Day
- September 13, 2020
Some of the hirings for these posts would be done through Amazon's Career Day , where 1,000 Amazon recruiters would offer 20,000 career coaching sessions for all levels of experience, professional fields, or backgrounds. An Amazon survey revealed that 53 percent of Americans had been forced to look for new jobs because of Covid-19. Research shows how the pandemic has prompted 61 percent of job seekers to look for a job in a different industry than they now work, while 36 percent feel their ... (more...)
- September 13, 2020
Some of the hirings for these posts would be done through Amazon's Career Day , where 1,000 Amazon recruiters would offer 20,000 career coaching sessions for all levels of experience, professional fields, or backgrounds. An Amazon survey revealed that 53 percent of Americans had been forced to look for new jobs because of Covid-19. Research shows how the pandemic has prompted 61 percent of job seekers to look for a job in a different industry than they now work, while 36 percent feel their ... (more...)
Lululemon reports £67.14 of net income in the fiscal second quarter
- September 12, 2020
But its stock fell by more than 6% in after-hours trading as investors looked for more. Total revenue increased 2% to $903 million, coming ahead of the company's expectations of a high single digits decline. The company's second quarter 2020 earnings results, which were reported on Tuesday, were better than analysts' projections. McDonald said they are on track to begin offering the Mirror in 10 to 15 Lululemon stores in the U.S.by early quarter-four when they will also begin leveraging ... (more...)
- September 12, 2020
But its stock fell by more than 6% in after-hours trading as investors looked for more. Total revenue increased 2% to $903 million, coming ahead of the company's expectations of a high single digits decline. The company's second quarter 2020 earnings results, which were reported on Tuesday, were better than analysts' projections. McDonald said they are on track to begin offering the Mirror in 10 to 15 Lululemon stores in the U.S.by early quarter-four when they will also begin leveraging ... (more...)
United Kingdom agrees trade deal with Japan as row with European Union intensifies
- September 12, 2020
The UK-Japan Comprehensive Economic Partnership Agreement was agreed in principle by International Trade Secretary Liz Truss and Japan Foreign Minister on a video call this morning (Friday 11 September). And while this deal has been struck in record time, it hasn't been quite as speedy as either side hoped. Trade representatives there forecast the agreement should get clearance by January. (more...)
- September 12, 2020
The UK-Japan Comprehensive Economic Partnership Agreement was agreed in principle by International Trade Secretary Liz Truss and Japan Foreign Minister on a video call this morning (Friday 11 September). And while this deal has been struck in record time, it hasn't been quite as speedy as either side hoped. Trade representatives there forecast the agreement should get clearance by January. (more...)
Louis Vuitton owner LVMH suspends $14.5 billion Tiffany buyout
- September 12, 2020
The French conglomerate announced this week that it would not be able to complete the deal after the French government requested it delay the acquisition. Meanwhile, as an inevitable repercussion of an LVMH move to cancel its acquisition deal for the United States jeweller, Tiffany & Co. "The long preparation of this assignment demonstrates the dishonesty of Tiffany in its relations with LVMH ", the company said on Thursday. (more...)
- September 12, 2020
The French conglomerate announced this week that it would not be able to complete the deal after the French government requested it delay the acquisition. Meanwhile, as an inevitable repercussion of an LVMH move to cancel its acquisition deal for the United States jeweller, Tiffany & Co. "The long preparation of this assignment demonstrates the dishonesty of Tiffany in its relations with LVMH ", the company said on Thursday. (more...)
Here's all you need to know about Citi's new CEO Jane Fraser
- September 12, 2020
Fraser is now Citi's President and CEO of Global Consumer Banking, and will succeed Corbat as CEO in February, and she has been elected to the Board of Directors, with service beginning immediately. "I don't feel that's in any way soft or weaker". Nonetheless, CEO Jamie Dimon shows no signs of stepping down from his role. Corbat's eight-year helm as chief executive and cumulative 37 years with the company spanned the nation's recovery from the 2008 financial crisis and coronavirus recession. (more...)
- September 12, 2020
Fraser is now Citi's President and CEO of Global Consumer Banking, and will succeed Corbat as CEO in February, and she has been elected to the Board of Directors, with service beginning immediately. "I don't feel that's in any way soft or weaker". Nonetheless, CEO Jamie Dimon shows no signs of stepping down from his role. Corbat's eight-year helm as chief executive and cumulative 37 years with the company spanned the nation's recovery from the 2008 financial crisis and coronavirus recession. (more...)
Tiffany sues as LVMH backs out of $16bn deal
- September 12, 2020
It's lawsuit contends that the foot-dragging was purposeful: "LVMH still has not filed formal requests for antitrust approval in the European Union or Taiwan, and applications are still outstanding in Japan and Mexico, all due to LVMH's concerted efforts to delay or avoid receipt of regulatory approvals in those jurisdictions in breach of the Merger Agreement", the statement contends. (more...)
- September 12, 2020
It's lawsuit contends that the foot-dragging was purposeful: "LVMH still has not filed formal requests for antitrust approval in the European Union or Taiwan, and applications are still outstanding in Japan and Mexico, all due to LVMH's concerted efforts to delay or avoid receipt of regulatory approvals in those jurisdictions in breach of the Merger Agreement", the statement contends. (more...)
United Kingdom publishes post-Brexit Internal Market Bill
- September 12, 2020
It says it's doing so in order to protect the peace agreement in the event there is no deal with the EU . Meanwhile, trade talks between the UK's Brexit negotiator Lord Frost and his European Union counterpart Michel Barnier continue. (more...)
- September 12, 2020
It says it's doing so in order to protect the peace agreement in the event there is no deal with the EU . Meanwhile, trade talks between the UK's Brexit negotiator Lord Frost and his European Union counterpart Michel Barnier continue. (more...)
Oil Resumes Declines on Signs U.S. Stockpiles Are Swelling Again
- September 11, 2020
Brent crude is down four cents to trade at $40.02 at the time of publication, while the US West Texas Intermediate (WTI) is up four cents to $37.34 a barrel. US crude stockpiles are forecast to have fallen by 3 million barrels last week, according to a Bloomberg survey. The outlook remains challenging for crude oil prices as stalling demand becomes an increasing concern. (more...)
- September 11, 2020
Brent crude is down four cents to trade at $40.02 at the time of publication, while the US West Texas Intermediate (WTI) is up four cents to $37.34 a barrel. US crude stockpiles are forecast to have fallen by 3 million barrels last week, according to a Bloomberg survey. The outlook remains challenging for crude oil prices as stalling demand becomes an increasing concern. (more...)
Gold prices today decline as traders book profits
- September 11, 2020
Gold has gained 0.8 per cent so far this week. Gold and silver prices in India have struggled for direction after hitting highs of ₹56,200 and ₹79,723 last month. Gold holdings with SPDR rose by 2.92 tonnes to 1252.96 tonnes, first increase since August 26. Gold prices rose by Rs 287 to Rs 52,391 per 10 gram in the national capital on Thursday, according to HDFC Securities . (more...)
- September 11, 2020
Gold has gained 0.8 per cent so far this week. Gold and silver prices in India have struggled for direction after hitting highs of ₹56,200 and ₹79,723 last month. Gold holdings with SPDR rose by 2.92 tonnes to 1252.96 tonnes, first increase since August 26. Gold prices rose by Rs 287 to Rs 52,391 per 10 gram in the national capital on Thursday, according to HDFC Securities . (more...)
Indian economy worst hit, FY21 GDP to contract 14.8 pc: Goldman Sachs
- September 11, 2020
That was in stark contrast to the agency's earlier projection of 5.3 per cent in the current fiscal year, versus growth of 4.2 per cent in the previous year. Domestic rating agency India Ratings and Research , meanwhile, revised India's GDP growth forecast for the financial year 2020-'21 to -11.8% from -5.3%. (more...)
- September 11, 2020
That was in stark contrast to the agency's earlier projection of 5.3 per cent in the current fiscal year, versus growth of 4.2 per cent in the previous year. Domestic rating agency India Ratings and Research , meanwhile, revised India's GDP growth forecast for the financial year 2020-'21 to -11.8% from -5.3%. (more...)
Michael Gove: Government 'could not and would not' withdraw Internal Market Bill
- September 10, 2020
The Scottish Sun quoted Nicola Sturgeon, leader of the Scottish government, as saying the bill would be a "full-frontal assault on devolution". Meanwhile, a spokesman for the EU's chief Brexit negotiator Michel Barnier said the talks would not be suspended amid the row. (more...)
- September 10, 2020
The Scottish Sun quoted Nicola Sturgeon, leader of the Scottish government, as saying the bill would be a "full-frontal assault on devolution". Meanwhile, a spokesman for the EU's chief Brexit negotiator Michel Barnier said the talks would not be suspended amid the row. (more...)
BoC: Forward guidance suggests extended period of low rates - RBC CM
- September 10, 2020
On Wednesday, the BoC held its key interest rate steady at 0.25% but left the door open on possible future changes to its quantitative easing program. Treasuries on Tuesday. "The pace of the recovery remains highly dependent on the path of the COVID-19 pandemic and the evolution of social distancing measures required to contain its spread", the BoC said. (more...)
- September 10, 2020
On Wednesday, the BoC held its key interest rate steady at 0.25% but left the door open on possible future changes to its quantitative easing program. Treasuries on Tuesday. "The pace of the recovery remains highly dependent on the path of the COVID-19 pandemic and the evolution of social distancing measures required to contain its spread", the BoC said. (more...)
You will get 8.5% interest on provident fund in 2 tranches
- September 10, 2020
In the board meeting held on March 5, EPFO had chose to cut interest rate to 8.5 percent for 2019-20 from 8.65 percent which it paid in the previous year. The interest rate will be notified by the labour ministry after getting approval from the finance ministry. Small savings rates range from 4.0-7.6%. (more...)
- September 10, 2020
In the board meeting held on March 5, EPFO had chose to cut interest rate to 8.5 percent for 2019-20 from 8.65 percent which it paid in the previous year. The interest rate will be notified by the labour ministry after getting approval from the finance ministry. Small savings rates range from 4.0-7.6%. (more...)
European Union fumes over British defiance, but will press on with Brexit talks
- September 10, 2020
The European Commission called for urgent talks with London . While admitting that the Bill does break global law, the British Government insists that the clauses in the draft legislation are a "safety net" to protect the Good Friday Agreement if there is no trade deal. (more...)
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- September 10, 2020
The European Commission called for urgent talks with London . While admitting that the Bill does break global law, the British Government insists that the clauses in the draft legislation are a "safety net" to protect the Good Friday Agreement if there is no trade deal. (more...)
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