Markets


US jobless claims decline to a still-high 900,000 US jobless claims decline to a still-high 900,000
- January 21, 2021

The new weekly unemployment claims report is the first under a new presidential administration and underscores the importance of extending or building on the enhanced unemployment insurance program created in the second stimulus agreement. (more...)
‘Steam’ fined for geo-blocking video games in Europe ‘Steam’ fined for geo-blocking video games in Europe
- January 21, 2021

According to the announcement , these firms were determined to be engaging in unlawful restriction of cross-border sales of products (video games) across countries that lie within the EEA (European Economic Area). Geo-blocking practices in the form of licensing and distribution agreements concluded bilaterally between four out of the five PC video game publishers (i.e. (more...)
World Economic Forum warns of long-term effects of Covid-19 World Economic Forum warns of long-term effects of Covid-19
- January 21, 2021

The latest global risks report from the organisation behind the Davos conference of business leaders and politicians warns environmental crises pose the greatest threat to the world in the next decade. The Davos Agenda will focus on mobilising worldwide partnerships to counter the humanitarian and economic impacts of the COVID-19 pandemic by urging innovative solutions for future recovery and prosperity. (more...)
Stellantis sees 80% of merger savings within four years Stellantis sees 80% of merger savings within four years
- January 21, 2021

Carlos Tavares's comments came as Stellantis shares surged more than 10% on their NY debut, mirroring strong increases in its French and Italian listed stock since their launches on Monday. When asked about the future of the group's Ellesmere Port plant in Britain and whether Stellantis would invest in electric vehicles there, following the conclusion of a Brexit trade deal, Tavares said: "we are now reviewing those different scenarios". (more...)
Watchdog Agency: Energy Sector Needs to Decrease Methane Emissions Watchdog Agency: Energy Sector Needs to Decrease Methane Emissions
- January 20, 2021

Assuming that a ton of methane is equivalent to 30 times as much carbon dioxide, the IEA said, the total global emissions from oil and gas companies matched the energy-related carbon footprint of the European Union previous year. The energy sector is the second-largest emitter of methane worldwide, following agriculture, according to the IEA's Methane Tracker . Methane - which can be the product of natural sources as well as human operations - doesn't linger in the atmosphere almost as ... (more...)
UK inflation up on travel costs in Dec lockdown reprieve UK inflation up on travel costs in Dec lockdown reprieve
- January 20, 2021

Monthly CPI in the bloc rises by 0.3% in December. "The ONS collected its data five days closer to Christmas Day last month than in December 2019; airline fares tend to rise sharply as the Christmas holidays approach", he said. Prices in the oils and fats category climbed by 10.2 per cent over 12 months and by 1.6 per cent over one month. The CPIH 12-month rate, which includes owner occupiers' housing costs, was 0.8% in December 2020, up from 0.6% in November . (more...)
United Kingdom imposes mandatory COVID-19 tests for worldwide travellers amid virus surge United Kingdom imposes mandatory COVID-19 tests for worldwide travellers amid virus surge
- January 20, 2021

British Transport Secretary Grant Shapps said travellers "can't board. without having that negative test". The Department for Transport anticipates the policy will help prevent the spread of new variants of COVID-19, such as those found in Denmark and South Africa. (more...)
Stellantis takes flight as PSA-FCA complete merger Stellantis takes flight as PSA-FCA complete merger
- January 20, 2021

Mr Tavares pledged that "we will not shut down plants as a outcome of the merger" between PSA and Fiat Chrysler, but noted that companies have an "ethical responsibility... As the Stellantis decides where to invest in making electric vehicles , Mr Tavares said it would have to consider "a pure logistic or paperwork respect, perhaps it is better to put it in continental Europe" - a clear reference to barriers created by Brexit. (more...)
Samsung billionaire heir ordered back to prison for bribery | Fin24 Samsung billionaire heir ordered back to prison for bribery | Fin24
- January 20, 2021

With Lee's sentencing today, it is unclear who will take over his responsibilities at Samsung. The court ruled that Lee engaged in the embezzlement and bribery in order to win support from the National Pension Service for a merger of Cheil Industries and Samsung C&T, two key affiliates of the conglomerate - a merger allegedly aimed at smoothing the path for Lee to succeed his ailing father. (more...)
Github apologises for firing Jewish employee who warned about 'Nazis' Github apologises for firing Jewish employee who warned about 'Nazis'
- January 20, 2021

It was announced that a new job offer was made for the Jewish employee who was sacked after the incident. Microsoft-owned GitHub, a code-sharing site for software developers, said Sunday that the company's chief human resources had resigned after an investigation into the company's firing of a Jewish employee found "major errors in judgment and procedures". (more...)
Treasury nominee Janet Yellen to say USA does not seek weaker dollar Treasury nominee Janet Yellen to say USA does not seek weaker dollar
- January 19, 2021

Responding to questions from the Senate Finance Committee at her confirmation hearing, Yellen said China has been "undercutting American companies" with a series of policies, including illegal subsidies, dumping of products, theft of intellectual property and barriers to USA goods. (more...)
Man Found Living at O'Hare for Months Cited COVID Fears Man Found Living at O'Hare for Months Cited COVID Fears
- January 19, 2021

The Chicago Tribune reports Singh boarded a flight from Los Angeles on October 19 with the intent of flying home to India because his visa was about to expire. She said he has a master's degree in hospitality and is unemployed. How Singh was able to live in what is basically a giant petri dish while subsisting off food that's touched other people's grubby hands is unclear. (more...)
Oil backs off 11-month high on rising Covid-19 cases Oil backs off 11-month high on rising Covid-19 cases
- January 19, 2021

US oil was down by 21 cents, or 0.4%, at $52.15 a barrel, having declined 2.3% in the previous trading session. Brent gained 3 cents, or 0.1%, to $ 55.13 a barrel at 9:38 a.m. Investors are watching out for U.S. oil inventory data from the industry association API, due on Wednesday, the same day U.S. President-elect Biden's inauguration speech will likely give details on the country's $1.9 trillion aid package. (more...)
COVID-19: Emirates stops flights to three major Australian cities COVID-19: Emirates stops flights to three major Australian cities
- January 19, 2021

Emirates will fly its final services to Sydney on January 18, and Melbourne on January 19. Emirates operated its last flight into Brisbane from Dubai, yesterday, Saturday. The Australian government responded by announcing more repatriation flights and said other carriers still flying services to the cities could fill the gap. (more...)
RBI governor Shaktikanta Das calls for stronger governance structure in banks, NBFCs RBI governor Shaktikanta Das calls for stronger governance structure in banks, NBFCs
- January 18, 2021

The RBI would soon come out with guidelines for NBFCs. Cost of compliance to rules and regulations should be perceived as an investment as any inadequacy in this regard will prove to be detrimental, he said. "Building buffers and raising capital by banks - both in the public and private sector - will be crucial not only to ensure credit flow but also to build resilience in the financial system", Das said. (more...)
DHFL lenders favour Piramal proposal DHFL lenders favour Piramal proposal
- January 18, 2021

This was approved by the CoC in its 18th meeting concluded on January 15, 2021, DHFL said in a regulatory filing. Billionaire Ajay Piramal led Piramal Capital & Housing Finance Limited (PCHFL) has emerged as the winning bidder for Dewan Housing Finance Limited (DHFL), after nearly 94 percent of the creditors voted in its favour, multiple people aware of the development told CNBC-TV18. (more...)
HDFC Bank’s consolidated net profit jumps 14.36% in December quarter HDFC Bank’s consolidated net profit jumps 14.36% in December quarter
- January 18, 2021

In any case, the stock rose 13 percent in the year 2020, in this way showing a greatly improved exhibition than Bank Nifty, that revised 2.8 percent during the said period. The bank's non-interest income, which includes commissions and fees and profits from bond trading, rose 11% to Rs 7,443 crore from Rs 6,669 crore in the corresponding quarter a year ago. (more...)
Pfizer reassures Europe over vaccine Pfizer reassures Europe over vaccine
- January 18, 2021

In Norway , where 13 frail elderly people died after a first vaccine injection, the Medical Medicines Agency, after assessing the cases, suggested last week that the deaths could be linked to side effects of the jab. Despite the fatalities, the country's medicines agency says it is not anxious. The country launched a mass vaccination campaign at the end of December 2019, with the very oldest citizens and residents of nursing homes being offered vaccination first, including those over the ... (more...)
Victory for those refused business interruption insurance claims Victory for those refused business interruption insurance claims
- January 18, 2021

Ecclesiastical and Zurich , parties to the test case in the High Court, did not appeal after the court found in their favour on their contested policies. Because the coronavirus lockdown was nationally mandated, insurers argued they did not have to pay out. It will be up to insurers to determine how much is payable under individual policies, based on the guidance in the judgment and further guidance to be published by the FCA, which is now in draft form. (more...)
Mega Millions and Powerball Jackpots Grow After No Winners Picked Over Weekend Mega Millions and Powerball Jackpots Grow After No Winners Picked Over Weekend
- January 18, 2021

Lottery officials say two tickets worth $1 million apiece were sold in Bergen County and in Sussex County. The jackpots for both the Mega Millions and Powerball continue to soar into record-breaking totals following a weekend of unmatched winning numbers . (more...)

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