Finance

by | August 03, 2020 | 17:40

A new spike in coronavirus cases has prompted Australia's second-biggest city, Melbourne , to go into a stage-four lockdown. The stage four restrictions in Melbourne will see the imposition of a curfew that prohibits residents from leaving their homes between 8pm and 5am every night, except for work or caregiving.

by | August 03, 2020 | 15:44

Companies are allowing people to work from home, and this new way of collaborating is actually working. The new announcement applies to employees whose role and situation enables them to work from home. With very few exceptions, offices won't open before September. To aid their staff, Twitter have increased employees allowances to buy home office supplies.

by | August 03, 2020 | 14:42

He added that "the goal is to operate four nuclear power plants that will provide one-quarter of the country's energy needs in a safe, reliable and emission-free way". Three other reactors are still under construction and the plant still needs to be connected to the country's power grid, local media reported. "It's a moment of pride that testifies to the high calibre of the Emirati cadres who are tirelessly working along with worldwide expertise to ensure the highest level of safety at the ...

by | August 03, 2020 | 12:29

Egypt's Minister of International Co-operation Rania Al-Mashat responded on Twitter, saying she followed and admired Musk's work, but wanted him to actually read writings about how the pyramids were actually built. "Mr. Musk, we are waiting for you", she added - followed by a rocket emoji. Scientists are still unsure how the Egyptian pyramids were constructed before modern technology, given that the millions of stones used would be hard to move without cranes.

by | August 03, 2020 | 11:54

Victoria has already been under a state of emergency since March 16. The state is battling a devastating second wave of coronavirus infections, which plunged Melbourne into an unprecedented lockdown and saw regional Victoria adopt tougher measures.

by | August 03, 2020 | 00:23

If a pricing agreement can not be reached after three months, arbitrators will make a binding decision. "There is a fundamental bargaining power imbalance between news media businesses and the major digital platforms, partly because news businesses have no option but to deal with the platforms, and have had little ability to negotiate over payment for their content or other issues", ACCC Chairman Rod Sims said .

by | August 02, 2020 | 19:40

The idea of offloading ARM to another company has been floating around for a while now and it looks like Nvidia could be the best suitor. As SoftBank seems to repay its rising pile of debt with a view to appease uneasy buyers, a sale of ARM at its peak may assist bolster the Japanese know-how conglomerate's funds.

by | August 02, 2020 | 18:22

Amazon will be pumping in more than $10 billion to build a constellation of over 3,000 satellites that will be capable of beaming high-speed broadband internet service to people across the world who so long lacked such access. The satellites will be designed and tested at a new research and development facility opening in Redmond, Washington. "Kuiper will change that". Jeff Bezos's firm has not said when those satellites would be launched or what launch vehicle they would use to reach ...

by | August 02, 2020 | 15:00

However, it will benefit considerably from the historic 750-billion-euro rescue plan that was agreed by the European Union's 27 member states on July 21. Compared to a year ago, France's economy shrank by 19%. Cases have been rising again in several countries as people go on vacations and Britain slapped a 14-day quarantine on travellers returning from Spain.

by | August 02, 2020 | 13:07

The Dow Jones Industrial Average rose 114.67 points, or 0.44 per cent, to 26,428.32, the S&P 500 gained 24.9 points, or 0.77 per cent, to 3,271.12 and the Nasdaq Composite added 157.46 points, or 1.49 per cent, to 10,745.28. The company's chief executive officer, Peter Kern, called it "likely the worst quarter the travel industry has seen in modern history". Energy companies were also particularly weak as the pandemic sucked away demand for oil.

by | August 02, 2020 | 06:24

Officials warned that no one should eat, sell or serve onions that came from Thomson International Inc. Canadians should throw away any red onions that may have come from the US due to a risk of salmonella , the Public Health Agency of Canada warned Friday .

by | August 02, 2020 | 02:57

Haja Timbo, 21, was with Olivia Winnie Muranga, 19, and Diana Lasu in Melbourne, where they hosted a drunken party at their Airbnb property that was shut down by Victorian police. 'From the beginning of this, we have issued well over 1,100 infringement notices and 40 people have made false declarations at our borders, ' Queensland Police Commissioner Katarina Carroll said.

by | August 01, 2020 | 15:55

This CPI measure hasn't gone backwards so dramatically in nearly 60 years but the quarterly plunge was the steepest since the early 1930s Great Depression, as a result of cheap petrol, free childcare and discounts on rent. Rent costs fell by 1.3 per cent, for the first time since data was collected on this in 1972, as landlords were barred from evicting tenants. In July, several commodities suffered price decreases including rice (down 0.33% over the previous month) due to its abundant ...

by | July 31, 2020 | 23:14

Crude oil prices moved higher on Wednesday after official data showed a much larger than expected decline in USA crude inventories in the week ended July 24. The raging COVID-19 pandemic is keeping alive concerns about falling fuel demand causing an oversupplied market as record numbers of infections are reported globally, including the USA, the world's biggest consumer of oil.

by | July 31, 2020 | 20:57

Bill Cassidy of Louisiana lends credence to that. GOP officials from New Hampshire to MS to Iowa quickly pushed back against Trump's suggestion that it might be necessary to delay the November election- which he can not do without congressional approval- because of the unfounded threat of voter fraud.

by | July 31, 2020 | 18:54

Shares of Eastman Kodak Co . have leapt 2,441% higher this week, sending its market valuation to almost $2 billion, after it won a government loan to help produce ingredients used in key generic medicines to fight the coronavirus . According to the company's officials, Kodak'srole will be to produce "starter materials" used to make generic drugs for medical purposes. In May, the administration awarded a contract worth up to $812 million for a new U.S.

by | July 31, 2020 | 16:10

Google appeared to weather the slowdown better than before, as the pandemic has made the internet more attractive to advertisers than TV, radio and other avenues. "This is reflected in the strength of our backlog, which ended the quarter at $14.8 billion, substantially all of which relates to Google Cloud". "Although we still expect the pace of headcount growth to decelerate somewhat in 2020, we're continuing to hire aggressively in priority areas like cloud", Porat said.

by | July 31, 2020 | 14:41

That makes it the first time in nine years that a company other than Samsung or Apple led the quarter, the report says. A Huawei spokesman said, "Our business has demonstrated exceptional resilience in these hard times", as per a report by Reuters.

by | July 30, 2020 | 19:43

Apart from the investment demand, silver is also a key component in electric vehicles and as the demand for the latter rises, the metal will also be in demand. The price is now a life-time high of over Rs 50,000 per 10 grams, a key milestone and response is naturally mixed with content investors and wary consumers and to put it in perspective, gold prices have risen by 60 per cent since January 2019 and 20 per cent since January 2020, income growth or expectation have not kept pace with ...

by | July 30, 2020 | 18:39

In a tweet , Mr Trump said "universal mail-in voting" would make November's vote the "most inaccurate and fraudulent election in history" and a "great embarrassment to the USA". The president does not have the power to change the date of the election. Senate Majority Leader Mitch McConnell, R-Ky., did not respond to questions about Trump's tweet on the way to the Senate floor Thursday morning.

by | July 30, 2020 | 18:30

In his tweet , he didn't offer evidence to support the claim that the type of voting would lead to an "inaccurate and fraudulent" outcome, or why absentee voting is "good" while mail-in voting is not. In an interview with Fox News , he said: "No, I'm not going to just say 'yes.' I'm not going to say 'no, ' and I didn't last time, either". According to CNN, the Trump administration is engaged in legal battles in at least 13 states, where the Democrats are seeking to expand mail-in ...

by | July 30, 2020 | 16:19

They closed Friday at $2.62. "Those are huge costs". The bottom line: "The loan is the first of its kind under the Defense Production Act, which the Trump administration has previously invoked to speed the production of Covid-19 related supplies such as ventilators".

by | July 30, 2020 | 11:09

The enhanced federal unemployment benefits that millions of Americans rely upon will formally expire on Friday as Republicans and Democrats remain far apart on the next COVID-19 relief bill, a senior White House official said on Wednesday.

by | July 29, 2020 | 07:08

Ryanair Holdings PLC has reported a first quarter loss of €185 million, as Covid-19 caused a fall in traffic over the period from 42 million passengers to just 500,000. Ryanair resumed flights on July 1. "It is impossible to predict how long the Covid-19 pandemic will persist, and a 2nd wave of Covid-19 cases across Europe in late autumn (when the annual flu season commences) is our biggest fear right now".

by | July 29, 2020 | 07:07

Gold futures have soared almost 30 percent this year to US$1,941 per ounce, beating the previous record of $1,921 in 2011, with the bullish rally kicking off earlier this month, Reuters data show. Silver holdings with iShares ETF were unchanged for a second day at 17379.98 tonnes, a record high level. Geopolitical tension between US & China and weakness in dollar supports the bullions.