Markets
Google And Facebook To Extend Work From Home Plan Till 2021
- December 06, 2020
As a result, all major technology companies are likely to allow their employees to work from home throughout the rest of the year 2020. Facebook employees have been working from home since March. Gopalakrishnan believes at least 20-30 per cent of IT employees would continue to work from home even after the lockdown is lifted and the situation returns to normalcy. (more...)
- December 06, 2020
As a result, all major technology companies are likely to allow their employees to work from home throughout the rest of the year 2020. Facebook employees have been working from home since March. Gopalakrishnan believes at least 20-30 per cent of IT employees would continue to work from home even after the lockdown is lifted and the situation returns to normalcy. (more...)
USA jobless claims remain high at 712,000 amid COVID-19 spike
- December 06, 2020
Weekly Initial Jobless Claims in the United States fell by 75,000 last week. More people applied for state unemployment benefits in Louisiana last week than the week before, though the increase was nothing like the recent spike that officials attributed to fraud. (more...)
- December 06, 2020
Weekly Initial Jobless Claims in the United States fell by 75,000 last week. More people applied for state unemployment benefits in Louisiana last week than the week before, though the increase was nothing like the recent spike that officials attributed to fraud. (more...)
S&P 500 Index renews record high above 3,680 despite disappointing NFP data
- December 06, 2020
The S&P 500 posted 23 new 52-week highs and no new low, while the Nasdaq recorded 192 new highs and six new lows. Energy was the best-performing S&P 500 sector, gaining 5.4%. The S&P 500 rose 4.2 points, or 0.12 per cent, at the open to 3670.94, while the Nasdaq Composite rose 22.1 points, or 0.18 per cent, to 12399.322 at the opening bell. (more...)
- December 06, 2020
The S&P 500 posted 23 new 52-week highs and no new low, while the Nasdaq recorded 192 new highs and six new lows. Energy was the best-performing S&P 500 sector, gaining 5.4%. The S&P 500 rose 4.2 points, or 0.12 per cent, at the open to 3670.94, while the Nasdaq Composite rose 22.1 points, or 0.18 per cent, to 12399.322 at the opening bell. (more...)
US House speaker expresses optimism over COVID-19 relief package
- December 05, 2020
It also includes $500 for every child in the household of eligible families, expanded the eligibility criteria for unemployment relief, extended benefits by 13 weeks, increased maximum unemployment benefits by $600 per week, provided $500 billion in relief for corporations, gave $350 billion in relief to small businesses and allocated $100 billion in assistance for hospitals. (more...)
- December 05, 2020
It also includes $500 for every child in the household of eligible families, expanded the eligibility criteria for unemployment relief, extended benefits by 13 weeks, increased maximum unemployment benefits by $600 per week, provided $500 billion in relief for corporations, gave $350 billion in relief to small businesses and allocated $100 billion in assistance for hospitals. (more...)
Ryanair orders 75 more Boeing 737 Max planes
- December 05, 2020
The PR flight was created to regain public trust in the Boeing 737 Max, after the Federal Aviation Administration [FAA] in the United States ungrounded the aircraft last month , paving the way for it to return to commercial service. We will use your email address only for sending you newsletters. A total of 346 passengers and crew members on both planes were killed. The MAX aircraft had been a cash cow for Boeing prior to the fatal Lion Air and Ethiopian Airlines crashes in 2018 and 2019 ... (more...)
- December 05, 2020
The PR flight was created to regain public trust in the Boeing 737 Max, after the Federal Aviation Administration [FAA] in the United States ungrounded the aircraft last month , paving the way for it to return to commercial service. We will use your email address only for sending you newsletters. A total of 346 passengers and crew members on both planes were killed. The MAX aircraft had been a cash cow for Boeing prior to the fatal Lion Air and Ethiopian Airlines crashes in 2018 and 2019 ... (more...)
Waddell & Reed Stock Rallies, After Macquarie Group's $1.7bn Acquisition
- December 05, 2020
LPL will payMacquarie Group US$ 300 million and integrate Waddell's approximately 900 brokers and their client assets onto its platform shortly after the deal's expected close in middle of summer 2021. As a result of the transaction, Macquarie Asset Management's assets under management are expected to increase to over US$ 465 billion. The group will sell Waddell & Reed's financial advice arm to retail investment advisor LPL Financial Holdings for $US300 million ($404.9 million). (more...)
- December 05, 2020
LPL will payMacquarie Group US$ 300 million and integrate Waddell's approximately 900 brokers and their client assets onto its platform shortly after the deal's expected close in middle of summer 2021. As a result of the transaction, Macquarie Asset Management's assets under management are expected to increase to over US$ 465 billion. The group will sell Waddell & Reed's financial advice arm to retail investment advisor LPL Financial Holdings for $US300 million ($404.9 million). (more...)
Grant Shapps announces quarantine exemption for business travellers
- December 05, 2020
However, Shapps has now confirmed elite sportspeople, performing arts professionals, TV production staff and journalists will be exempt from those restrictions as of 04.00 on Saturday, as long as "specific criteria" are met. 'All travellers, including those from exempt destinations, will still be required to show a complete passenger locator form on arrival into the United Kingdom unless they fall into a small group of exemptions'. (more...)
- December 05, 2020
However, Shapps has now confirmed elite sportspeople, performing arts professionals, TV production staff and journalists will be exempt from those restrictions as of 04.00 on Saturday, as long as "specific criteria" are met. 'All travellers, including those from exempt destinations, will still be required to show a complete passenger locator form on arrival into the United Kingdom unless they fall into a small group of exemptions'. (more...)
European Union negotiator Michel Barnier cancels meeting to continue Brexit talks
- December 05, 2020
One of the key concerns is over fishing rights . The talks remain focused on the level of access given to the European fishing fleet to British waters at the end of the year and the so-called level playing field provisions. Late on Wednesday, there were signs that a deal was almost concluded. "We are at a hard point in the talks", Prime Minister Boris Johnson's official spokesman told reporters . (more...)
- December 05, 2020
One of the key concerns is over fishing rights . The talks remain focused on the level of access given to the European fishing fleet to British waters at the end of the year and the so-called level playing field provisions. Late on Wednesday, there were signs that a deal was almost concluded. "We are at a hard point in the talks", Prime Minister Boris Johnson's official spokesman told reporters . (more...)
Opec+ agrees output hike from January
- December 04, 2020
Oil has rallied recently on optimism that fuel demand will start to rebound once COVID-19 vaccines are widely distributed. Oil extended gains after OPEC+ reached a compromise deal to gradually taper production cuts next year. The ringgit opened higher against the USA dollar for the third consecutive day, riding on firmer crude oil prices fuelled by the Organisation of the Petroleum Exporting Countries+'s (OPEC+) production decision. (more...)
- December 04, 2020
Oil has rallied recently on optimism that fuel demand will start to rebound once COVID-19 vaccines are widely distributed. Oil extended gains after OPEC+ reached a compromise deal to gradually taper production cuts next year. The ringgit opened higher against the USA dollar for the third consecutive day, riding on firmer crude oil prices fuelled by the Organisation of the Petroleum Exporting Countries+'s (OPEC+) production decision. (more...)
Biden endorses $1.2 trillion relief plan as 'down payment'
- December 04, 2020
Where a stimulus deal stands: McConnell rejected the bipartisan plan after it was announced Tuesday. "In the last several days, the Democrats' leaders have signaled a new willingness to engage in good faith", he said on the Senate floor, according to Roll Call . (more...)
- December 04, 2020
Where a stimulus deal stands: McConnell rejected the bipartisan plan after it was announced Tuesday. "In the last several days, the Democrats' leaders have signaled a new willingness to engage in good faith", he said on the Senate floor, according to Roll Call . (more...)
HDFC Bank feels RBI wrath over power outage
- December 04, 2020
RBI has directed HDFC Bank's top examine the lapses and fix accountability. The bank added it would look into the critical observations made by the RBI and take measures to prevent outages in future. "We are working on a war footing to strengthen this area also now", said the chief executive officer. Customers had in December past year complained that they were unable to pay their loan EMIs or pay credit bills on time following which the RBI's deputy governor M.K. (more...)
- December 04, 2020
RBI has directed HDFC Bank's top examine the lapses and fix accountability. The bank added it would look into the critical observations made by the RBI and take measures to prevent outages in future. "We are working on a war footing to strengthen this area also now", said the chief executive officer. Customers had in December past year complained that they were unable to pay their loan EMIs or pay credit bills on time following which the RBI's deputy governor M.K. (more...)
MPC meet: RBI may keep interest rates unchanged over inflation concerns
- December 04, 2020
The key lending rate of the RBI or the repo rate was left unchanged at 4% while the reverse repo rate or the key borrowing rate stayed at 3.35%. According to a DBS Bank research report, the RBI is likely to pause on rates. She expects the central bank to update its forecasts on inflation and growth , besides sharing its views on developments including a liquidity glut in the money market. (more...)
- December 04, 2020
The key lending rate of the RBI or the repo rate was left unchanged at 4% while the reverse repo rate or the key borrowing rate stayed at 3.35%. According to a DBS Bank research report, the RBI is likely to pause on rates. She expects the central bank to update its forecasts on inflation and growth , besides sharing its views on developments including a liquidity glut in the money market. (more...)
Most Small Business Aid Went to Bigger Businesses
- December 04, 2020
Distributed earlier this year, it provided in excess of half a trillion dollars in financial assistance to businesses affected by the COVID-19 pandemic. Davis & Sons at nearly $7.9 million, Port of Wilmington operator GT USA Wilmington at about $7 million, and contract research organization QPS Holdings at about $6.6 million. (more...)
- December 04, 2020
Distributed earlier this year, it provided in excess of half a trillion dollars in financial assistance to businesses affected by the COVID-19 pandemic. Davis & Sons at nearly $7.9 million, Port of Wilmington operator GT USA Wilmington at about $7 million, and contract research organization QPS Holdings at about $6.6 million. (more...)
United Kingdom services activity drops less than feared in second lockdown: PMI By
- December 04, 2020
Despite easing to 53.7 in November, from 54.1 in October, the latest reading was still indicative of a solid pace of expansion. It is the agency which prepares the index based on compilation of responses from questionnaires sent to a panel of around 400 service sector companies. (more...)
- December 04, 2020
Despite easing to 53.7 in November, from 54.1 in October, the latest reading was still indicative of a solid pace of expansion. It is the agency which prepares the index based on compilation of responses from questionnaires sent to a panel of around 400 service sector companies. (more...)
Biden Makes History By Appointing All-Female Comms Team
- December 04, 2020
In a statement on Sunday evening, Biden's transition team issued a statement declaring the team the "first senior White House communications team comprised entirely of women". Ashley Etienne will be Vice President Kamala Harris' communication director after being the senior adviser for the Biden-Harris campaign. Psaki was a spokesperson at the Democratic Congressional Campaign Committee in 2006 and has also served as Communications Director to former Congressman Joe Crowley. (more...)
- December 04, 2020
In a statement on Sunday evening, Biden's transition team issued a statement declaring the team the "first senior White House communications team comprised entirely of women". Ashley Etienne will be Vice President Kamala Harris' communication director after being the senior adviser for the Biden-Harris campaign. Psaki was a spokesperson at the Democratic Congressional Campaign Committee in 2006 and has also served as Communications Director to former Congressman Joe Crowley. (more...)
Democrats hint willingness towards trimmed-down Covid-19 relief
- December 03, 2020
Sen. Bernie Sanders on Wednesday blasted Senate Majority Leader Mitch McConnell for pushing a coronavirus relief measure that contains a 100% tax deduction for business meals-a gift to corporate executives-but nothing for the tens of millions of people across the US who are struggling to afford food for themselves and their families. (more...)
- December 03, 2020
Sen. Bernie Sanders on Wednesday blasted Senate Majority Leader Mitch McConnell for pushing a coronavirus relief measure that contains a 100% tax deduction for business meals-a gift to corporate executives-but nothing for the tens of millions of people across the US who are struggling to afford food for themselves and their families. (more...)
Brexit stuck as European Union unfair, says UK
- December 03, 2020
That said, the initial reaction to such an agreement would likely be moderately positive for UK assets as it would remove the major risk of the UK spinning out of the UK with no deal. Raising the issue in the Commons yesterday, South Belfast MP Claire Hanna also pressed Secretary of State Brandon Lewis to rule out any undermining of the Northern Ireland Protocol. (more...)
- December 03, 2020
That said, the initial reaction to such an agreement would likely be moderately positive for UK assets as it would remove the major risk of the UK spinning out of the UK with no deal. Raising the issue in the Commons yesterday, South Belfast MP Claire Hanna also pressed Secretary of State Brandon Lewis to rule out any undermining of the Northern Ireland Protocol. (more...)
Hyundai boosts electric vehicle range to 500 km with new platform
- December 03, 2020
According to the Korean automaker, its new rear-wheel driven platform can provide a 500-plus kilometre full charge range (WLTP rating) and be charged up to 80 per cent in just 18 minutes with high-speed charging. It is too good. Hyundai Motor Group has revealed a new platform that will serve as the backbone for its next-generation electric vehicles, whether they be sedans, SUVs or something in between. (more...)
- December 03, 2020
According to the Korean automaker, its new rear-wheel driven platform can provide a 500-plus kilometre full charge range (WLTP rating) and be charged up to 80 per cent in just 18 minutes with high-speed charging. It is too good. Hyundai Motor Group has revealed a new platform that will serve as the backbone for its next-generation electric vehicles, whether they be sedans, SUVs or something in between. (more...)
Trump Supports McConnell's COVID-19 Relief Package: Mnuchin
- December 03, 2020
Update : House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer released a joint statement on Wednesday asking Senate Majority Leader Mitch McConnell to use the $908 billion stimulus proposal as a starting point for relief talks. (more...)
- December 03, 2020
Update : House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer released a joint statement on Wednesday asking Senate Majority Leader Mitch McConnell to use the $908 billion stimulus proposal as a starting point for relief talks. (more...)
S&P 500 hits record as investors await fiscal deal
- December 03, 2020
Canada's S&P/TSX Composite Index closed up 61.28 points, or 0.35%, at 17,358.21, with energy and cannabis stocks leading the way. The Dow Jones Industrial Average was up 35 points, or 0.1%, to 29,862 as of 2:49 p.m. Wall Street stocks were lower at the bell on Wednesday after some disappointing data from the ADP . At the same time, Salesforce .com tumbled 8.5%. (more...)
- December 03, 2020
Canada's S&P/TSX Composite Index closed up 61.28 points, or 0.35%, at 17,358.21, with energy and cannabis stocks leading the way. The Dow Jones Industrial Average was up 35 points, or 0.1%, to 29,862 as of 2:49 p.m. Wall Street stocks were lower at the bell on Wednesday after some disappointing data from the ADP . At the same time, Salesforce .com tumbled 8.5%. (more...)
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