Finance

by | August 09, 2020 | 00:54

Under the Delhi EV policy, the AAP-led Delhi government will give financial incentives upto Rs 1.5 lakh on the purchase of electric vehicles and the slabs have been decided based on the vehicle type. Moreover, to procure electric commercial vehicles, the Delhi government has also announced an interest waiver on loans to buy these vehicles and has also announced an overall waiver of registration fee (road tax) on any EV being registered in the city till the next three years.

by | August 08, 2020 | 19:28

IHS Markit's Manufacturing Purchasing Managers' Index ( PMI ) for Indonesia, a gauge of the country's manufacturing activities, climbed by nearly eight points from 39.1 in June to 46.9 in July, the highest reading since February. Analysts had predicted a score of 57, according to an average compiled by Pantheon Macroeconomics . "With such a prolonged and significant downturn, any substantial recovery will take many months, if not years".

by | August 08, 2020 | 18:37

Treasury Secretary Steven Mnuchin , along with White House Chief of Staff Mark Meadows , recommended Trump move forward with the executive orders on Friday after meeting with top congressional Democrats. President Donald Trump says he is considering executive orders to address evictions and unemployment insurance, but they appear unlikely to have much impact.

by | August 08, 2020 | 18:29

As the name suggests, the RS Q8 is the performance version of the Q8 which was launched earlier this year. Audi recently launched the RS7 Sportback model in India in July after much anticipation. Power is shipped to all 4 wheels through the Quattro All-Wheel-Drive set-up. Which has the power to achieve 0 to 100kmph in 3.8 seconds. The Audi RS Q8 will share the underpinnings with the Q8 SUV while featuring a glossy-black "Singleframe" grille with honeycomb pattern, headlights, reworked ...

by | August 08, 2020 | 07:57

The province's unemployment rate now sits at 12.8 per cent attributing to the third largest drop across provinces in July according to Statistics Canada's Labour Force Survey released Friday morning. Ontario-wide employment is at 91.7 per cent of pre-pandemic February levels. "This was due to a number of factors, including part-time work being more prevalent in industries that were most affected by the COVID-19 economic shutdown, namely retail trade and accommodation and food services".

by | August 08, 2020 | 07:57

Meanwhile, initial unemployment claims nationwide came in at almost 1.2 million, compared to roughly 1.4 million the week before, according to the U.S. The jobs added in July were in leisure and hospitality, government, retail trade, professional and business services, other services, and health care.

by | August 07, 2020 | 22:56

But now in the new decision, the company has chose to extend it till July next year. "In addition, we are giving employees an additional $1,000 for home office needs", a Facebook spokesperson was quoted as saying in The Verge on Thursday.

by | August 07, 2020 | 22:53

Statistics Canada says the July unemployment rate for the region from Brockville to Ottawa and east to the Quebec border jumped to 9.6 per cent from 9.4 per cent in July. Although employment rose faster among women (3.4 per cent) compared to men (1.5 per cent), men are still closer to being back at pre-pandemic levels of employment.

by | August 07, 2020 | 21:08

Technology and communication services stocks powered the rally, which extended the S&P 500's winning streak to a fifth day. Looking at the economy, US payrolls added 1.763 million workers in July as the unemployment rate fell to 10.2 percent, the Labor Department said Friday.

by | August 07, 2020 | 19:23

About one-third of the jobs gained in July were created in the leisure and hospitality sector, with employment in food services and drinking places rising by just over half a million. "The downturn is far from over, especially as COVID cases rise around the country", said Andrew Challenger , senior vice president at Challenger, Gray & Christmas.

by | August 07, 2020 | 02:45

The pandemic is hurting demand for goods and services, broadening layoffs to sectors of the economy that were not initially impacted when nonessential businesses like restaurants and bars were shuttered in mid-March to slow the spread of the respiratory illness.

by | August 06, 2020 | 22:55

The airline is primarily a long-haul operator, including flights between the United Kingdom and the U.S. It stopped flying in April due to the pandemic and only resumed flights in July. About 3000 of 9000 jobs will go at Virgin, which has been hit by turmoil in the aviation market caused by the coronavirus pandemic. Virgin will employ 6000 workers when the market recovers with plans to grow to 8000 in the future.

by | August 06, 2020 | 20:58

The development of the story follows recent reports of Blizzard employees sharing an internal spreadsheet with their wages and pay increases, which revealed numerous company's workers are struggling to make ends meet. The average monthly cost to rent property in Irvine, California, where the company's headquarters is located, is almost $2,500. Meanwhile, Activision CEO Bobby Kotick made $40 million previous year, while incoming Chief Financial Officer Dennis Durkin made $15 million in ...

by | August 06, 2020 | 19:56

Major economies around the world including the U.S. and many European countries have injected stimulus packages to combat the impact of Covid-19, which have lifted gold prices upwards. Spot gold rose as much as 1.8 per cent to a record US$2,055.79 an ounce and traded at US$2,036.61 as of 2:06 p.m.in NY. As the Covid-19 pandemic has roiled markets, gold has gained almost 35% this year and is one of 2020's best-performing assets.

by | August 06, 2020 | 14:44

If you've got a family, that's probably a saving compared to four or five tickets to an actual showing of the movie, which is likely Disney's thinking. Launching next year, the company will offer an worldwide streaming service dubbed Star , and while details are scarce, it would appear that Star will be an global equivalent to Hulu with a focus on more adult-oriented content as opposed to the IP-driven Disney +.

by | August 06, 2020 | 12:05

An expert committee will be set up under K V Kamath to thrash out modalities and look into resolution plans of eligibile borrowers. Monetary Policy Committee expects inflation to remain elevated in Q2, ease in second half of fiscal, says RBI Governor.

by | August 05, 2020 | 23:23

Rendle will succeed Chairman-CEO Benno Dorer, who will remain as executive chairman during a transition period, as has been the company's custom. Don't expect that to change anytime soon, Clorox says. A recent announcement from the Environmental Protection Agency that two Lysol sprays were shown to be effective in lab testing to kill the virus has caused a run on Lysol products as well.

by | August 05, 2020 | 20:38

Lordstown Motors CEO Steve Burns announced the company's plans to go public , merging with DiamondPeak Holdings . A blank check company is generally referred to as a "special objective acquisition company" (SPAC), which is formed in order to raise funds via an IPO to finance a merger or acquisition.

by | August 05, 2020 | 16:23

However it marks the latest in a string of dire warnings for the airline, after Virgin Atlantic told a London court Tuesday it will run out of cash as soon as September unless a rescue deal is quickly approved. "Such an outcome would be particularly unfortunate because the group's business is fundamentally sound". In July, the airline said its private deal with stakeholders eliminates the need for support from the British government that billionaire founder Richard Branson had sought.

by | August 05, 2020 | 10:40

Gold futures edged 0.5% higher at $1,986.90 an ounce on the Comex in NY. Spot gold jumped as much as 2 per cent to US$2,017.39 an ounce by 4pm EDT (2000 GMT). Meanwhile, U.S. and Chinese officials plan to assess the nations' trade accord this month against a backdrop of rising tensions between the countries, according to people briefed on the matter.

by | August 05, 2020 | 08:25

The unabated COVID-19 spread and rising fatalities worldwide continue to be the most significant issue capping oil demand recovery. Oil prices fell in early trade on Tuesday on concerns about fuel demand growth as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output.

by | August 04, 2020 | 20:59

Many people also did not qualify for traditional EI. Details will be rolled out in the coming weeks. More than 8.4 million Canadians have applied for the program as of July 26, according to figures from the federal government. Statistics Canada says the sector would have grown by 11.4 per cent had they been excluded from calculations. Recouping the remaining percentage points will take months, if not longer.

by | August 04, 2020 | 10:42

On Saturday, Al-Mashat tweeted: "I follow your work with a lot of admiration". This did not stop other archaeological experts from speaking up. An Egyptian government official has invited Elon Musk to visit the iconic pyramids at Giza after the Tesla CEO suggested that the northern African country's famous structures were built by extraterrestrials .

by | August 04, 2020 | 07:14

Rolls-Royce, which made the engines for the legendary P-51 and British Spitfire WWII fighter planes and the second-largest maker of aircraft engines behind General Electric, also built the engines used on the Concorde , one of only two supersonic commercial airliners ever to fly.

by | August 04, 2020 | 07:12

Dubbed "Rishi's dishes", Chancellor Rishi Sunak unveiled the scheme to give the struggling hospitality sector a boost now lockdown has eased in most areas. The discount applies to food and non-alcoholic drinks, including soft drinks and packaged snacks, as long as they are consumed immediately on the premises.