Finance

by | September 12, 2020 | 13:44

Earlier this year LVMH's board had also reviewed the impact of the COVID-19 pandemic on the Tiffany takeover . The United States instituted a 25% tax on $1.3 billion worth of French products, including cosmetics, soap, and handbags, in July as retaliation for a tax France imposed on American technology companies.

by | September 12, 2020 | 08:56

Prime Minister Boris Johnson appealed to lawmakers in his Conservative Party on Friday (Sept 11) to back a trade Bill his government has admitted would break worldwide law, saying it was needed to protect Britain. Competition law expert Totis Kotsonis of Pinsent Masons said: "The government has acknowledged that this is a breach of the UK's obligations in worldwide law".

by | September 12, 2020 | 06:56

A base Touring model is planned with a starting price of just under $80,000, though it isn't due until 2022. Given Lucid's development of a "skateboard" type vehicle platform it would be safe to assume the new Gravity will share the same architecture as the Air, bringing similar advantages and performance claims.

by | September 12, 2020 | 05:26

The world's top oil exporter Saudi Arabia cut the October official selling price for Arab Light crude it sells to Asia by the biggest margin since May. Traders were looking for a 3.1 million barrel decline. Analysts estimate was for a draw of 1.3 million barrels. Record supply cuts by the Organization of the Petroleum Exporting Countries and allies, known as Opec+, have helped support prices, but with grim economic figures being reported nearly daily, the outlook for demand for oil ...

by | September 11, 2020 | 21:24

But Biden acknowledged that he expects the president to " say very bad things about me and my family" during the debate to try to get a rise out of him - and the debate is nearly certain to feature clashes about the two candidates' families, as such attacks have been central themes that have already played out on the campaign trail.

by | September 11, 2020 | 17:56

Morgan Asset Management. And in recent days they have traded in a very narrow range. The dollar index held firm against its rivals, recovering from a drop against the euro in the previous session. "The lack of policy change at the ECB is much more to do with the reduced effectiveness of the remaining options at its disposal rather than the central bank being comfortable with the current state of the economy".

by | September 11, 2020 | 07:27

Goldman Sachs forecast a 14.8% contraction in India's economy in FY21, possibly the deepest cut estimated thus far and steeper than the 10.5% fall estimated by Fitch Ratings . On the other hand, India Retains has forecast a decline of 11.9 percent in the second quarter and 6.7 percent in the third quarter and 5.4 percent in the fourth quarter.

by | September 11, 2020 | 05:41

Reliance Retail owns more than 11,000 stores, including convenience shops, supermarkets, apparel, and electronics. The shares of Reliance Industries were trading almost 7% up on Thursday after reports of global investors and firms such as Amazon, KKR looking to invest in Reliance Retail.

by | September 10, 2020 | 20:26

Britain's decision to break global law by overwriting part of the EU Withdrawal Agreement has alarmed European leaders and threatens to scuttle the fragile negotiations on future UK-EU relations now being held in the British capital. "The Withdrawal Agreement and the Northern Ireland protocol aren't like any other treaty", said a spokesman for the prime minister. And on Wednesday night, USA house speaker Nancy Pelosi reiterated her warning that there would be dire consequences if the UK's ...

by | September 10, 2020 | 15:23

The bill includes $300 a week for expanded unemployment insurance benefits through the end of the year and $257 billion for a second round of the small-business focused Paycheck Protection Program . McConnell is looking to push a vote on the latest bill as early as this week, but Democrats have already indicated they do not support the measure.

by | September 10, 2020 | 14:22

Still, some believe more volatility is in store. The Nasdaq plunged in early trading. The DAX in Frankfurt advanced less than 0.1% to 13,249.15. The Dow Jones Industrial Average lost 632.42 points, or 2.2%, to 27,500.89. On Wednesday, Apple , Amazon and other US tech companies that had lost momentum late last week all regained some ground. Meanwhile, the tech-heavy Nasdaq plunged over 4 percent.

by | September 10, 2020 | 13:12

McGuinness, who was chosen over the Irish government's other nominee, Andrew McDowell, is the current first vice-president of the European Parliament. "The financial services portfolio cuts across all policy areas". He also paid tribute to Ms McGuinness saying: "Mairead is an excellent MEP and I have always supported her in the role".

by | September 10, 2020 | 12:25

Nancy Pelosi said in a statement: "Whatever form it takes, Brexit can not be allowed to imperil the Good Friday Agreement , including the stability brought by the invisible and frictionless border between the Irish Republic and Northern Ireland ".

by | September 10, 2020 | 11:36

Rodnenkov said he and Kravtsov visited Kolesnikova's home in Minsk on Monday after hearing reports that she was missing. Police detained dozens of people from among hundreds who protested on Tuesday evening against Ms Kolesnikova's disappearance.

by | September 09, 2020 | 18:25

Lukashenko said his supporters would be attacked if he left power, said Babayan, editor-in-chief of the Moscow Talks radio station. Lithuanian Foreign Minister Linas Linkevicius said the members of the opposition council only want to allow the people of Belarus to "choose their future themselves".

by | September 09, 2020 | 08:28

All the 11 primary S&P 500 sectors dropped, with technology down 4.59 percent, leading the losses. The Nasdaq dropped 465.44 points, or 4.1%, to 10,847.69. Declines started premarket and worsened as General Motors said it would take a $2 billion (Dh7.3bn) equity stake in Nikola and partner with the fledgling truck maker to engineer and manufacture its Badger pickup.

by | September 09, 2020 | 02:22

GM will "engineer, validate, homologate, and build the Nikola Badger" electric and fuel cell pickup. Its recently introduced Badger pickup truck is expected to be unveiled in early December. Nikola Motor has reached an agreement with General Motors that will see the legacy automaker produce its first pickup truck, the Badger. "We are growing our presence in multiple high-volume EV segments while building scale to lower battery and fuel cell costs and increase profitability", CEO Barra ...

by | September 08, 2020 | 07:50

But as always with the energy market, opinions differed: while Kemp and others regarded the rebalancing of the oil market as stalled, Russian president Vladimir Putin and Saudi king Mohammed bin Salman spoke by phone on Monday and agreed that the Organization of the Petroleum Exporting Countries' (OPEC) output cutbacks had generally stabilized global energy markets; they also vowed to continue coordination action.

by | September 08, 2020 | 05:37

Facebook gave employees $1,000 (₦390,000) bonuses for their work-from-home and childcare costs. The company claims to be in the process of identifying employees that will be required to report to the office. "Facebook has taken the next step in its return to work philosophy". The virus, which has infected more than 3.8 million people globally so far, has forced strict lockdowns in most countries and changed the way businesses function, with work from home emerging as the new norm.

by | September 08, 2020 | 04:12

Amazon , with its almost 48 per cent market share in the global cloud computing industry, was long considered to be the clear frontrunner until the process's final phase. It's also important to point out that the DoD cited price as a major factor in the previous decision. Microsoft and AWS both were allowed to make their respective arguments to military officials as part of the review, but not modify their initial proposals.

by | September 07, 2020 | 17:44

The already-concluded withdrawal agreement, which allowed the United Kingdom to leave at the end of last January, includes the Northern Ireland protocol, Mr Varadkar said. There were "really only two bones of contention left", he said, adding though that no compromise was possible on a "straightforward point of principle", meaning that an internal row over the extent of subsidies needed for Boris Johnson's economic initiatives is further contributing to the UK's firm stance on not giving in ...

by | September 07, 2020 | 16:10

Employment among Indigenous people living off-reserve fell by 1.8 per cent from July, compared with gains of 1.3 per cent for non-Indigenous Canadians. Despite the increase, Canada sits 1.1 million jobs below the pre-pandemic total. Alberta's unemployment rate drop of one percentage point is the second-largest decrease last month, again only behind Newfoundland and Labrador where the rate dipped by 2.5 percentage points.

by | September 07, 2020 | 11:38

The top Chinese manufacturer of semiconductors is denying a connection to the Chinese military amid reports the US may slap it with export controls. United States regulators are considering adding Semiconductor Manufacturing International Corp.

by | September 07, 2020 | 09:54

The Greek government has said that any Covid-19 vaccine would not be compulsory but it will be "strongly recommended". "Under the agreement, the University of Oxford/AstraZeneca and the University of Queensland/CSL will provide more than 84.8 million vaccine doses for the Australian population, nearly entirely manufactured in Melbourne, with early access to 3.8 million doses of the University of Oxford vaccine in January and February 2021", the Monday statement from the prime minister's ...

by | September 07, 2020 | 08:55

Should both vaccines pass clinical trials, Australia will spend A$1.7 billion ($1.24 billion) for a total of almost 85 million doses, Morrison said. The agreements are for 33.8 million does of the Oxford vaccine and 51 million doses of the University of Queensland vaccine, which has been developed with $5 million of Federal Government support.