Markets
China CCP to Nationalize Jack Ma's Alibaba and Ant Group
- January 09, 2021
Some investors expressed skepticism, however, that Alibaba and Tencent would face long-term restrictions - given that they are worth a combined $1.3 trillion, widely held by U.S. The order bans trading in the affected securities starting January 11. In addition to military-linked companies, Washington also seeks to tighten on Chinese firms that fail to pass USA auditing standards, pressuring them with the prospects of delisting from American bourses. (more...)
- January 09, 2021
Some investors expressed skepticism, however, that Alibaba and Tencent would face long-term restrictions - given that they are worth a combined $1.3 trillion, widely held by U.S. The order bans trading in the affected securities starting January 11. In addition to military-linked companies, Washington also seeks to tighten on Chinese firms that fail to pass USA auditing standards, pressuring them with the prospects of delisting from American bourses. (more...)
Oil prices jump 4% on OPEC+ output talks, Iran tension
- January 09, 2021
Oil touched a 10-month high above $50 a barrel after Saudi Arabia pledged to cut an extra 1 million barrels a day of crude output in February and March. Opec+ subsequently scaled back its output cuts to 7.7 million bpd in August previous year and now to 7.2 million bpd, believing current price levels are viable for most producers. (more...)
- January 09, 2021
Oil touched a 10-month high above $50 a barrel after Saudi Arabia pledged to cut an extra 1 million barrels a day of crude output in February and March. Opec+ subsequently scaled back its output cuts to 7.7 million bpd in August previous year and now to 7.2 million bpd, believing current price levels are viable for most producers. (more...)
Mercedes-Benz EQS: Next-gen MBUX Hyperscreen infotainment revealed
- January 09, 2021
Mercedes-Benz has unveiled a new-age dashboard, called MBUX Hyperscreen , for its electric version of the new S-Class under EQ brand. The auto can also store the locations of speed bumps and steep driveways, and subsequently recommend drivers via the infotainment system to raise the car's ride height use its air suspension system to clear the obstacle ahead. (more...)
- January 09, 2021
Mercedes-Benz has unveiled a new-age dashboard, called MBUX Hyperscreen , for its electric version of the new S-Class under EQ brand. The auto can also store the locations of speed bumps and steep driveways, and subsequently recommend drivers via the infotainment system to raise the car's ride height use its air suspension system to clear the obstacle ahead. (more...)
Another 787,000 Americans filed for unemployment benefits last week
- January 09, 2021
As for Thursday's report , there was a sharp increase in claims for extended state benefits - payments to the long-term unemployed whose regular benefits have run out. Coronavirus cases have surged in the state during the same period, though it's not clear how numerous jobless claims are a direct result of the virus. (more...)
- January 09, 2021
As for Thursday's report , there was a sharp increase in claims for extended state benefits - payments to the long-term unemployed whose regular benefits have run out. Coronavirus cases have surged in the state during the same period, though it's not clear how numerous jobless claims are a direct result of the virus. (more...)
Cruise lines face more than a year without US sailings
- January 09, 2021
Princess Cruises previously paused global guest cruise vacations and cancelled all departures on all ships through March 31, 2021. It's going to be a while still before cruises return. Other booking and cancellation conditions and policies may?apply if the cruise was not booked through Holland America Line. Cruises from San Diego and San Francisco also have been pushed out to at least mid-September. (more...)
- January 09, 2021
Princess Cruises previously paused global guest cruise vacations and cancelled all departures on all ships through March 31, 2021. It's going to be a while still before cruises return. Other booking and cancellation conditions and policies may?apply if the cruise was not booked through Holland America Line. Cruises from San Diego and San Francisco also have been pushed out to at least mid-September. (more...)
New Jeep Grand Cherokee arrives in USA
- January 09, 2021
Jeep Compass 2021 for the Indian auto market has been officially unveiled and the updates promise to make it a strong offering here once again. The firm said production of the vehicle has already begun with dispatches to dealerships slated to start shortly. (more...)
- January 09, 2021
Jeep Compass 2021 for the Indian auto market has been officially unveiled and the updates promise to make it a strong offering here once again. The firm said production of the vehicle has already begun with dispatches to dealerships slated to start shortly. (more...)
Delhi: Petrol hits new high as taxes bump up crude impact
- January 09, 2021
Bhubaneswar: Petrol and diesel prices showed minor fluctuations in capital city Bhubaneswar on Thursday. Across the country as well the price of diesel increased at varied levels depending on the prevalent taxation structure. Gandhi demanded that the government slash the rates of excise duty on petrol and diesel. International Oil prices rose on Wednesday to their highest since February 2020. (more...)
- January 09, 2021
Bhubaneswar: Petrol and diesel prices showed minor fluctuations in capital city Bhubaneswar on Thursday. Across the country as well the price of diesel increased at varied levels depending on the prevalent taxation structure. Gandhi demanded that the government slash the rates of excise duty on petrol and diesel. International Oil prices rose on Wednesday to their highest since February 2020. (more...)
UK lockdown will be slowly unwrapped, says British PM Boris Johnson
- January 09, 2021
People across England have been ordered to stay home. Brigadier Prosser said the mission is to support the NHS in delivering the maximum amount of vaccine to minimise the number of infections and deaths as quickly and as safely as possible. (more...)
- January 09, 2021
People across England have been ordered to stay home. Brigadier Prosser said the mission is to support the NHS in delivering the maximum amount of vaccine to minimise the number of infections and deaths as quickly and as safely as possible. (more...)
Amazon purchases 11 aircraft to expand transportation fleet_china
- January 08, 2021
Amazon said it had also purchased an additional seven planes from Delta Airlines . Now with the latest acquisition, the company has expanded its cargo air fleet to over 85 planes. However, Amazon already has emerged as a competitor to partners that only a few years ago delivered nearly all of its goods, as it handles most of its own deliveries. (more...)
- January 08, 2021
Amazon said it had also purchased an additional seven planes from Delta Airlines . Now with the latest acquisition, the company has expanded its cargo air fleet to over 85 planes. However, Amazon already has emerged as a competitor to partners that only a few years ago delivered nearly all of its goods, as it handles most of its own deliveries. (more...)
Economy likely to contract 7.7 pc in 2020-21
- January 08, 2021
This is in line with the RBI's estimate, which, in December previous year, had pegged the decline at 7.5 per cent. Srivastava further said the recovery in public administration, defence and other services is conditional upon central and state governments being able to substantially uplift their expenditures in the last quarter of the fiscal year. (more...)
- January 08, 2021
This is in line with the RBI's estimate, which, in December previous year, had pegged the decline at 7.5 per cent. Srivastava further said the recovery in public administration, defence and other services is conditional upon central and state governments being able to substantially uplift their expenditures in the last quarter of the fiscal year. (more...)
USA trade deficit increases by $5 billion in November
- January 08, 2021
The exports from the country increased by 4.98 percent during the first half (H1) of the current fiscal year (2020-21) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. In November, the goods-trade gap with the Asian nation widened further. Total exports increased 0.5 percent to Can$46.8 billion, led by large gold shipments to Britain, but were still below pre-pandemic levels. (more...)
- January 08, 2021
The exports from the country increased by 4.98 percent during the first half (H1) of the current fiscal year (2020-21) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. In November, the goods-trade gap with the Asian nation widened further. Total exports increased 0.5 percent to Can$46.8 billion, led by large gold shipments to Britain, but were still below pre-pandemic levels. (more...)
EV Startup Byton Gets Manufacturing Help From iPhone-Builder Foxconn
- January 08, 2021
Bloomberg reported earlier on Monday that Foxconn's listed company Hon Hai Precision Industry Co plans to invest $200 million in Byton, citing an unidentified person familiar with the matter. Byton, one of the highest-profile Chinese EV startups, had a tough 2020. Like many other EV startups, the company quickly ran into problems and was forced to furlough employees as well as suspend most of their operations. (more...)
- January 08, 2021
Bloomberg reported earlier on Monday that Foxconn's listed company Hon Hai Precision Industry Co plans to invest $200 million in Byton, citing an unidentified person familiar with the matter. Byton, one of the highest-profile Chinese EV startups, had a tough 2020. Like many other EV startups, the company quickly ran into problems and was forced to furlough employees as well as suspend most of their operations. (more...)
US Private Companies Unexpectedly Shed Thousands Of Jobs In December | NewsRadio KFBK
- January 08, 2021
The minutes of the Federal Reserve meeting of 15 to December 16 released Wednesday showed that policymakers expected soaring cases "to be particularly hard." for the labor market in the coming months. Private companies in the United States slashed a revised 302,000 jobs in March amid COVID-19 shutdowns, the first private payroll contraction in a decade. (more...)
- January 08, 2021
The minutes of the Federal Reserve meeting of 15 to December 16 released Wednesday showed that policymakers expected soaring cases "to be particularly hard." for the labor market in the coming months. Private companies in the United States slashed a revised 302,000 jobs in March amid COVID-19 shutdowns, the first private payroll contraction in a decade. (more...)
Trump orders ban on transactions with eight more Chinese apps
- January 08, 2021
Other apps include CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office - which are already banned in India. The order, however, goes into effect in 45 days, almost a month after Joe Biden will be inaugurated as the next president, so the fate of Trump's action is unclear. (more...)
- January 08, 2021
Other apps include CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office - which are already banned in India. The order, however, goes into effect in 45 days, almost a month after Joe Biden will be inaugurated as the next president, so the fate of Trump's action is unclear. (more...)
The Truth About Elon Musk's Staggering Net Worth
- January 08, 2021
But as we've seen again and again over the last nearly 12 months now, billionaire wealth has had a way of expanding even as the larger population struggles, and Elon Musk had an unusually good financial year even by those standards. That means Musk added at least $148 billion more to his personal fortune over the span of a year. Meanwhile, Amazon's stock was down slightly for the year as of late morning Thursday. (more...)
- January 08, 2021
But as we've seen again and again over the last nearly 12 months now, billionaire wealth has had a way of expanding even as the larger population struggles, and Elon Musk had an unusually good financial year even by those standards. That means Musk added at least $148 billion more to his personal fortune over the span of a year. Meanwhile, Amazon's stock was down slightly for the year as of late morning Thursday. (more...)
Gold holds steady as investors await Georgia runoffs verdict
- January 08, 2021
Spot gold was down 0.2 per cent to US$1,938.11 per ounce by 2.35am GMT, after hitting its highest since Nov 9 at US$1,945.26 earlier in the session, while United States gold futures shed 0.3 per cent to US$1,941.40. A weaker dollar also makes dollar-denominated commodities cheaper for other currency holders. The British pound bought $1.3570. USA crude futures rose 0.23% to $47.73 a barrel, while Brent futures edged up by 0.12% to $5115 per barrel. (more...)
- January 08, 2021
Spot gold was down 0.2 per cent to US$1,938.11 per ounce by 2.35am GMT, after hitting its highest since Nov 9 at US$1,945.26 earlier in the session, while United States gold futures shed 0.3 per cent to US$1,941.40. A weaker dollar also makes dollar-denominated commodities cheaper for other currency holders. The British pound bought $1.3570. USA crude futures rose 0.23% to $47.73 a barrel, while Brent futures edged up by 0.12% to $5115 per barrel. (more...)
Markets react to prospect of 'blue wave' in Georgia Senate vote
- January 08, 2021
Democrats hold the majority in the House of Representatives and now will be able to control the agenda in the Senate , including on nominations to fill President-elect Joe Biden's cabinet and the judiciary. After a shaken Congress formally certified Biden's election victory in the early hours of Thursday, Wall Street focused on the implications of the Democrats' control of Congress. (more...)
- January 08, 2021
Democrats hold the majority in the House of Representatives and now will be able to control the agenda in the Senate , including on nominations to fill President-elect Joe Biden's cabinet and the judiciary. After a shaken Congress formally certified Biden's election victory in the early hours of Thursday, Wall Street focused on the implications of the Democrats' control of Congress. (more...)
World Bank keeps India's FY20-21 contraction forecast unchanged
- January 08, 2021
Top near-term policy priorities are controlling the spread of COVID-19 and ensuring rapid and widespread vaccine deployment, the report said. "In India, the pandemic hit the economy at a time when growth was already decelerating". The World Bank said that per capita income in the region had shrunk by 6.1 percent a year ago, setting average living standards back by a decade in a quarter of sub-Saharan African countries. (more...)
- January 08, 2021
Top near-term policy priorities are controlling the spread of COVID-19 and ensuring rapid and widespread vaccine deployment, the report said. "In India, the pandemic hit the economy at a time when growth was already decelerating". The World Bank said that per capita income in the region had shrunk by 6.1 percent a year ago, setting average living standards back by a decade in a quarter of sub-Saharan African countries. (more...)
Kia reveals new logo, slogan with fireworks, drones
- January 08, 2021
South Korea's second-largest automaker Kia Motors unveiled a new logo and a brand slogan on Wednesday, as the company aims to transform its image to one of future mobility. Kia seals its brand promise by developing the new logo to resemble a handwritten signature . Part of the three-minute live-streamed event was captured in a video that has already garnered over 100,000 views on YouTube alone. (more...)
- January 08, 2021
South Korea's second-largest automaker Kia Motors unveiled a new logo and a brand slogan on Wednesday, as the company aims to transform its image to one of future mobility. Kia seals its brand promise by developing the new logo to resemble a handwritten signature . Part of the three-minute live-streamed event was captured in a video that has already garnered over 100,000 views on YouTube alone. (more...)
Qantas restarts worldwide flight sales as vaccines buoy hopes of open borders
- January 08, 2021
Qantas has reopened sales for worldwide flights from July 1, including to Heathrow, as both the USA and United Kingdom governments rollout vaccines. Authorities have said worldwide travel wouldn't resume until a vaccine was available, with a travel ban still in place. (more...)
- January 08, 2021
Qantas has reopened sales for worldwide flights from July 1, including to Heathrow, as both the USA and United Kingdom governments rollout vaccines. Authorities have said worldwide travel wouldn't resume until a vaccine was available, with a travel ban still in place. (more...)
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Kia to introduce new electric vehicle this quarter: Details here