Finance

by | August 22, 2020 | 12:58

Visit Business Insider's homepage for more stories . Virtual town hall sessions that were once held each month are now weekly affairs where anxious employees ask top executives if their paychecks will keep coming if the app goes dark in the US In response, executives have pointed to India, where TikTok has been banned but ByteDance Ltd., the Chinese company that owns the app, hasn't cut jobs.

by | August 22, 2020 | 11:06

Britain this week reportedly tabled a draft free-trade agreement - the rough outline of what it wants to have in place after the Brexit transition period finishes at the end of the year. The EU chief negotiator added that "the level playing field is not going away". A United Kingdom government spokesperson said earlier this week that the country does not plan on extending the December 31 deadline to reach an agreement.

by | August 22, 2020 | 09:50

Continuing claims, which hit a peak of 24.9m in May, equalled 10.2pc of the workforce, down from 10.6pc. And new unemployment claims jumped back above their lowest level since the escalation of the pandemic in the U.S. The department said there are 14.8 million continuing claims, which lag initial claims by a week. U.S. claims for unemployment benefits unexpectedly rose above one million last week, official figures show.

by | August 21, 2020 | 23:54

Additionally, the company has previously passed Saudi Aramco , the state oil company, to become the most valuable publicly traded company worldwide. A number of large, primarily USA based giants of technology such as Amazon , Facebook and Google have been quick to cash in on the current global downturn caused the the ongoing COVID-19 pandemic, with arguably the most popular standout in recent months the Zoom video conferencing service.

by | August 21, 2020 | 22:42

Airbnb said that it had not decided on the number of shares it is willing to sell or their price. The move underscores a rebound in parts of the travel industry. Airbnb remains one of the most highly anticipated stock listings of this year. Chesky said that as a result, Airbnb's revenue will likely be less than half of 2019's revenue.

by | August 21, 2020 | 17:57

The Trump administration sees a possibility for Republicans and Democrats to agree on a smaller round of pandemic relief totaling $500 billion that would omit the biggest areas of disagreement, according to a senior USA official. Yet she's also getting some pressure from fellow Democrats to offer partial relief. Earlier this week, a group of more than 100 Democrats wrote a letter asking House leadership to hold the vote as enhanced coronavirus unemployment benefits expired at the end of ...

by | August 21, 2020 | 07:56

Kim Yo Jong, 32, is now in charge of North Korean policy towards the US and South Korea, effectively making her his de-facto deputy, spy chiefs said. Days after the alleged nomination Kim Yo-jong threatened South Korea with military action and on 16 June Pyongyang blew up an inter-Korean liaison office , which served as a de-facto embassy in the absence of diplomatic ties between the two states.

by | August 21, 2020 | 05:22

The court has also given the companies until early September to come up with plans for how they would comply with the law. Uber's CEO, Dara Khosrowshahi, wrote an op-ed for the New York Times last week stating the company agrees gig-workers should be treated better, but disagrees with singling out ride-sharing companies and the wording of the new law that would limit flexibility.

by | August 20, 2020 | 21:42

The Nasdaq Composite was up 37.72 points, or 0.34%, at 11,184.18. A surprise jump in USA jobless claims to more than 1 million in the week ended August 15, reported on Thursday, reinforced bearish Federal Reserve comments on Wednesday that said job growth had slowed.

by | August 20, 2020 | 20:40

Facing pressure from legislators over the status of their drivers, Uber and Lyft are considering implementing a franchise-like model for their technology. This could help bolster their argument that they are only providing the technology and not the transportation. "No one is forcing Uber and Lyft to throw hundreds of thousands of workers out in the cold".

by | August 20, 2020 | 09:42

It can also serve as a warning to other vessels to steer clear of an area due to the sensitivity of the work being carried out and a signal of a country's sovereign exploration rights. While he pledged that Ankara was ready for dialogue, he insisted: "We will never bow to banditry on our continental shelf ". European Union leaders already planned an emergency meeting in September to discuss the situation in the eastern Mediterranean, and have underscored the need to deescalate matters.

by | August 20, 2020 | 02:18

America's farmers are "so happy" that they don't want Trump to take action against China over the coronavirus pandemic , he said, but "I can't forget that they allowed this to happen to the United States, and by the way, Europe and the rest of the world".

by | August 19, 2020 | 23:56

The UK inflation rate rose to 1% in July , as the easing of coronavirus restrictions prompted businesses across the country to reopen. The Canadian dollar pared its gain after the data, but then rose to a near seven-month high at 1.3133 to the greenback, or 76.14 US cents.

by | August 19, 2020 | 21:26

Some customers in Ossie's said they might think twice about purchasing Australian wine if the price goes up, but owner Steve Goodey, 64, said he's "not particularly" anxious. Australian industry figures show the country sells more wine to China than France, exporting A$1.1 billion ($795 million) of product in 2019/20 for a 37% market share of China's imports by dollar value.

by | August 19, 2020 | 21:21

As usual, it's the case makers that provide us with the most detailed leaks on the physical dimensions and design of the newest iPhones, since it's important for many of these companies to get their products manufactured and on sale in time for the release of the new model, and it seems that many aren't taking any chances in making sure that they'll have a ready supply of cases out for the various iPhone 12 models.

by | August 19, 2020 | 14:13

Democrats are gathering virtually over four days to formally nominate Biden and showcase why their candidate should replace Trump. Michelle Obama, the former first lady who is even more popular than her broadly popular husband, will speak Monday night, as will Vermont Sen.

by | August 19, 2020 | 09:59

On a month-on-month basis, the Headline index increased by 1.25 per cent in July 2020 which is 0.04 percentage points higher than the 1.21 per cent recorded in June 2020. He explains that the percentage change in the average composite CPI for the twelve-month period ending July 2020 compared to the average of the previous twelve-month CPI was 12.05%, an increase of 0.

by | August 19, 2020 | 07:41

The S&P 500 closed at a record high on Tuesday, rebounding from huge losses triggered by the coronavirus pandemic and crowning one of the most dramatic recoveries in the index's history. The tech-heavy Nasdaq index, which was the first to bounce back fully from March lows, hit a record high for the second consecutive session. Home Depot reported its biggest rise in quarterly same-store sales in at least two decades, however, its shares fell about 1 per cent after analysts cautioned that ...

by | August 19, 2020 | 02:56

A Pizza Hut spokesperson told CNBC in a statement that, "In the event NPC executes a sale of its Pizza Hut business, Pizza Hut's focus would be to ensure that new ownership brings to NPC's Pizza Hut restaurants a strong capital structure, healthy balance sheet, commitment to operational excellence, and a growth mindset".

by | August 19, 2020 | 02:12

Would a US-only TikTok be sealed off from the global version of the social network due to privacy concerns? Now, TikTok is "setting the record straight", addressing rumors and misinformation via a new information hub and Twitter account.

by | August 19, 2020 | 01:00

Nonetheless, in Scotland, Wales, Yorkshire and the Humber, North West England, the East Midlands, West Midlands and the East of England all recorded new highs in August. Large and spacious homes having three to four bedrooms, excluding four-bed detached properties saw a steep increase in demand as the agreed sales for them saw an upward movement.

by | August 18, 2020 | 19:43

For the 13-week period ending July 31, the Bentonville, Ark. -based mass merchant said US sales increased by 9.5% to $93.3 billion, while comps improved by 9.3%, reflecting a 27% increase in average basket size, and a 14% decline in store traffic.

by | August 18, 2020 | 17:40

It's the third time in the last four trading days the index has risen above that record, only to fade later in the day. "Tech is the only trade", said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.

by | August 18, 2020 | 15:30

Both India and the U.S. fear data collected by the TikTok could be given to the Chinese government. This action comes shortly after President Trump issued another Executive Order on August 6, 2020, effective September 20, prohibiting, to the extent permitted under applicable law, any transaction by any person, or with respect to any property, subject to the jurisdiction of the United States, related to TikTok with ByteDance and any of its subsidiaries.

by | August 18, 2020 | 07:53

In its weekly report on Wednesday, the EIA reported U.S. production fell 300,000 barrels a day to 10.7 million barrels a day along with a drop of 4.5 million barrels in crude inventories-the third weekly drop in a row. Zanganeh said oil Iran's oil industry has signed 13 contracts worth roughly 1.5 billion Euros with 14 local firms to enhance and maintain the country's oil production.