Finance

U.S. stocks lose steam as Apple re-closes some stores

U.S. stocks lose steam as Apple re-closes some stores As of writing, the S&P 500 was up 0.1% on the day at 3,127 points, the Dow Jones Industrial Average was flat and the Nasdaq Composite was gaining 0.45% at 9,945 points. In California, residents are required to wear face masks in high-risk settings. Volume on USA exchanges was 15.84 billion shares, compared with the 13.17 billion average over the last 20 trading days. [Full Article...]

Ambani beats zero net-debt deadline with US$15b Jio flows

Ambani beats zero net-debt deadline with US$15b Jio flows PIF has announced an investment of Rs 11,367 crore in Jio Platforms, which sees it pick up a 2.32 percent stake in the company. "I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue", Mr. [Full Article...]

'Huge Victory for LGBTQ Equality' as US Supreme Court Affirms Workplace Protections

'Huge Victory for LGBTQ Equality' as US Supreme Court Affirms Workplace Protections The U.S. Supreme Court ruled Monday that the ban on sex discrimination in Title VII of the Civil Rights Act protects gay and transgender workers. Two other plaintiffs did not live to see the ruling. The court also ruled in a case that involved a transgender funeral director named Aimee Stephens fired by a Detroit funeral home after revealing plans to transition from male to femal... [Full Article...]

Microsoft Holds Off On Facial Recognition for Police

Microsoft Holds Off On Facial Recognition for Police A push led by activist organizations has been calling for an outright government ban on the use of facial recognition for months. Smith said the company would still have "review factors" to find other ways that facial recognition technology can be used, "that go beyond what we already have". [Full Article...]

Fewer people are initially claiming unemployment in South Dakota

New Jersey's unemployment rate soared to 15.3% in April, the highest since record keeping began in 1976, according to the state labor department. "But it is still hard to square the claims figures with the much more upbeat news on the labour market from May's Employment Report". [Full Article...]

China's CPI growth continuously falls back in May

China's CPI growth continuously falls back in May The Bureau of Labor Statistics noted considerable disruption in the typical data collection process due to COVID-19. That was because goods deliveries were temporarily suspended amid the virus outbreak, and because of soaring prices of pork from African swine fever. [Full Article...]

Oil falls from $40 on doubts over early OPEC meeting

Oil falls from $40 on doubts over early OPEC meeting The OPEC+ agreement calls for laggards such as Iraq to cut by levels above and beyond their agreed production number to compensate for falling short previously. "Oil prices continue the greatest comeback in history", Phil Flynn, senior market analyst at the Price Futures Group, told FOX Business. Saudi Arabia, de facto leader of the Organization of Petroleum Exporting Countries, increased its pr... [Full Article...]

New CNN Poll Shows Joe Biden 14 Points Over Donald Trump

New CNN Poll Shows Joe Biden 14 Points Over Donald Trump Bush had at this point before losing their re-election bids. Over the same time, America First Action, a super PAC supporting Trump, spent about USD5 million on ads with similar messages. The results of the poll come as Trump has seen several well-known Republicans publicly express their disapproval of the president, with some saying they would not support his reelection. [Full Article...]

Canada's unemployment rate reaches record 13.7%

Canada's unemployment rate reaches record 13.7% USA employers added 2.5 million jobs in May, and the unemployment rate fell slightly to 13.3 percent, Xinhua news agency quoted the Bureau of Labor Statistics (BLS) as saying in a report on Friday. Payrolls are almost 20 million below their pre-COVID-19 level. Though numerous unemployed have said they expect their layoffs to be temporary, many large businesses won't rehire everyone t... [Full Article...]

USA futures gain as recovery optimism lingers ahead of May jobs data

USA futures gain as recovery optimism lingers ahead of May jobs data US stock indexes steadily increased in the course of trading Friday on news of an unexpected decline in may. The major averages are still up on track for solid weekly gains despite Thursday's drop. Amazon closed 0.7% lower while Alphabet and Apple were down by more than 0.8% each. American Airlines jumped 11.1% Friday, while United Airlines shares gained 8.5%. [Full Article...]

Facebook employees to face pay cut if they move to cheaper areas

Facebook employees to face pay cut if they move to cheaper areas Employees now working remotely who want to extend their remote work plans beyond the end of this year will need to alert Facebook for tax and payroll reasons. Working with partners "We're also working more closely with partners like Shopify , BigCommerce, WooCommerce, Channel Advisor, CedCommerce, Cafe24, Tienda Nube and Feedonomics to give small businesses the support they need", The team says. [Full Article...]

India cuts interest rates to shore up Covid-19 ravaged economy

India cuts interest rates to shore up Covid-19 ravaged economy The Reserve Bank of India (RBI) on Friday slashed interest rates, extended moratorium on loan repayments and allowed banks to lend more to corporates in an effort to support the economy which is likely to contract for the first time in over four decades. [Full Article...]

Tesla is working on making electric cars less expensive

Tesla is working on making electric cars less expensive Apparently Tesla will first implement these new "million-mile" batteries in the made-in-China Model 3 and then deploy to its gigafactories worldwide. CATL also has developed a simpler and less expensive way of packaging battery cells, called cell-to-pack, that eliminates the middle step of bundling cells. [Full Article...]

Trump 'not interested' in reopening talks on trade deal with China

Trump 'not interested' in reopening talks on trade deal with China Under the January deal, China agreed to increase its purchases of U.S. goods from a 2017 baseline by Dollars 200 billion over two years. China is committed to its Phase 1 trade deal with the United States and is working towards meeting its promise to boost USA purchases, even though the pace of buying has been restrained by the coronavirus outbreak, three Chinese sources said. [Full Article...]

Oil prices rise amid hopes for fuel demand

Oil prices rise amid hopes for fuel demand WTI with delivery in June increased by 5.9% and trading at $20,9. Oil rose above $31 a barrel on Wednesday as hopes for a recovery in demand as some countries ease coronavirus lockdowns offset a report showing a higher-than-expected rise in U.S. [Full Article...]

Apple to reopen some stores in United States next week

Apple to reopen some stores in United States next week While Apple hopes to reopen "many more" retail stores this month , the company will not only be forced to keep in stride with local health regulations, but Apple CEO Tim Cook has already stated that it likely won't be the first retailer to reopen in any given location. [Full Article...]

Trump believes there may be vaccine by end of year

Trump said that while he thought common ground could be found with Democrats over an infrastructure package, "we're not doing anything unless we get a payroll tax cut". Others - including two put together by Columbia University in NY - say the 100,000 mark will be long past by June 1. I think some of that frustration is warranted. [Full Article...]

Warren Buffett: 'American magic' will spur United States economic recovery

Warren Buffett: 'American magic' will spur United States economic recovery Buffett's comments came just hours after Berkshire Hathaway announced a record $US50 billion ($NZ82.4b) net first quarter loss, Reuters news agency reports. Buffett also said he remains keen on making a big acquisition, which he has not done since 2016, but has not provided financial support to companies as he did during the 2008 financial crisis because he saw nothing attractive enough, even afte... [Full Article...]

Buffett's Berkshire Hathaway posts record loss on coronavirus, but operating profit rises

Buffett's Berkshire Hathaway posts record loss on coronavirus, but operating profit rises Berkshire posted a net loss of $49.7 billion last quarter, a sharp swing from its net earnings of $21.6 billion in the first quarter of 2019. Just over a year ago, the firm posted what was until now its largest loss because of difficulties at its Kraft Heinz unit, where sales were hit hard in as shoppers increasingly shunned processed foods, The company posted a more than $25 billion net loss in... [Full Article...]

Trump to order meat-processing plants to remain open

Trump to order meat-processing plants to remain open On April 20, Nafissa Cisse Egbuonye, health director of Black Hawk County, Iowa, said 90 percent of the then-356 cases in the county were tied to Waterloo plant workers. "What we're seeing is with consumer demand up nearly 50 percent on average the last six weeks and the cumulative impact of all the plant closures and shift reductions reducing production capacity by 30 to 40 percent, we will see... [Full Article...]


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