CBA: Huge fiscal stimulus props up household income

Gareth Aird, head of Australian economics at CBA, has published research on the extent to which household impacts have been supported by the federal government’s stimulus:

Ukraine's chief banker: Most of problems on labor market unrelated to COVID-19

The second cause is low productivity.

Simon & Schuster names Jonathan Karp as new CEO

He replaces Carolyn Reidy, who died two weeks ago.

Amazon prepares Summer Sale to win back lost customers

With Prime Day reportedly delayed, the e-commerce giant might still flog some bargains soon

Dumpster Diving: (Potbelly Corp. Edition)

Before COVID-19, Potbelly was showing tangible signs of a business turnaround. If you look at Q4 2019 results, the company had its best comps in three years at

German union accuses Volkswagen of 'management errors' that put jobs at risks

Germany's biggest labor union criticized Volkswagen on Thursday for a recent advert deemed racist and other "errors", saying management had ...

7 in 10 Australian businesses have seen revenue loss due to the coronavirus, according to new ABS figures

The coronavirus has had a massive impact on Australian businesses.

Global coffee demand is expected to drop amid the coronavirus pandemic – which could be good news for Aussie cafes

A new report from agribusiness bank Rabobank estimates that global coffee demand will drop by one million 60kg bags in 2020 because of COVID-19’s impact on coffee consumption.

Lockdown wine consumption increase

A European study released on 25 May concluded that the frequency of wine consumption “increased markedly” in Spain, France, Italy and Portugal during the lockdown period.

Transport pass sales indicate recovery

Passes sold in May in the Lisbon Metropolitan Area (AML) indicate a significant recovery in relation to April, although they correspond to only 30 percent of the average of passes acquired during the first quarter of this year.

Sales of electric vehicles increase

Portugal has seen sales of electric or hybrid cars increase in the first quarter by 57 percent, compared to the same period in 2019, but associations fear that the trend will fall due to Covid-19.

Ford government signs agreement with York Region to extend subway line

A major step forward for the Yonge North Subway Extension.

Country encouraged to buy Portuguese

A campaign has been launched to encourage the buying of Portuguese products to help boost the economy, complete with a seal of approval for national products.

Japan April factory output falls 9.1% month/month - government

TOKYO (Reuters) - Japan's factory output fell 9.1% in April, government data showed on Friday, compared with a median market forecast for a 5.1% drop. Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output to shrink 4.1% in May and rise 3.9% in June, the data showed.

Pandemic causes surge in demand for sports cards

The sports card industry has experienced somewhat of a renaissance in recent years, but demand has exploded in the last three months during the pandemic.

GBP/JPY keeps the lower high formation above 132.00 as risk remains heavy

GBP/JPY declines 132.38, intraday low of 132.33, down 0.20% on a day, amid the initial Tokyo open on Friday. In addition to the upbeat economics from

PBOC sets Yuan reference rate at 7.1316

The People's Bank of China (PBOC) has set the Yuan reference rate at 7.1316 versus Thursday's fix at 7.1277.

Gold picks up a bid amid losses in the US stock futures

Gold, a traditional safe-haven asset, is drawing bids as the US stock futures are signaling risk aversion. The yellow metal is trading at $1,720 at pr

EUR/USD Price Analysis: Range breakout seen on D1 favors move above 1.11

EUR/USD closed well above 1.1019 on Thursday, confirming an upside breakout of the multi-week trading range of 1.0727 to 1.1019. The breakout is backe

Blackmores steadies the ship

The largest shareholder in Australia's biggest vitamins company is positioning for the future on many fronts.

PAS collapse a dose of COVID-19 reality

Workers and investors - including one Rich Lister - have been reminded that firms in trouble before this crisis will struggle to emerge from it. 

CBA says crisis reinforces its X15 mission to create new start-ups

CBA has rolled its Credit Savvy business into X15 and will host a hackathon in July to identify new ideas and entrepreneurs.

Rich Lister lessons from lockdown

The pandemic has left Australia's wealthiest people with time to reflect. Here's what the crisis has taught them.

Five richest Australians revealed

Surging iron ore prices and a tech sector winning from the work-at-home revolution sees former No. 1 Rich Lister Anthony Pratt bumped from the top five.

Rich Lister winners and losers so far

With the fortunes of many billionaires tied up in equity, the past few months have been a wild ride and not everyone has come out on top.

World Bank suggests possible extra replenishment of IDA lending arm

WASHINGTON, May 29 ― World Bank President David Malpass yesterday suggested the Bank and donor countries should explore a possible supplemental replenishment of the International Development Association (IDA) concessional lending arm if the coronavirus crisis deepens. In a letter to US and...

Australia's New South Wales state warns of Covid-19 budget toll

SYDNEY, May 29 ― Australia's biggest state in economic terms said today the coronavirus pandemic could cost it as much A$20 billion (RM57.7 billion) in lost revenues over the next four years, underscoring the urgency to revive the country's stuttering economy. Releasing its first estimate of the...

Cypriot Cabinet approves bill on EastMed Pipeline

Cyprus' government has approved the bill on the EastMed pipeline project, the country’s Energy Minister George Lakkotrypis said in a statement.

SEC de-registers 84 inactive stockbrokers, outlines Uduk’s scorecard

The outgoing Acting Director-General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, yesterday, presented her

Costa Group CEO Harry Debney to bow out

After a volatile decade including a public float in 2015, a profit wipeout in 2019 and steady navigation through COVID-19, the boss is departing.

Coronavirus hits Coalition seats the hardest, upping pressure on PM

Nine of the 10 seats with the biggest jobless increases are held by the Coalition, raising internal pressure on Scott Morrison to extend the JobKeeper allowance.

Trivendra Singh Rawat: ‘Can’t leave people on the roads… will continue bringing migrants’

Trivendra Singh Rawat said, "A huge number of people from Uttarakhand live in other states. Many of them want to come back amid the pandemic. More than 2.5 lakh people have registered so far."

Talent is useless without work ethic and attitude: Harsha Bhogle

In a motivational speech at IIM Ahmedabad in 2005, Harsha Bhogle talks about how talent is not the only ingredient to be successful.

Sanwo-Olu assures Lagosians of affordable housing

Lagos State Governor Babajide Sanwo-Olu said on Thursday that his administration would make available affordable and accessible housing for residents....

Playboy Lays Off Remaining Editorial Staff, Pivots to e-Commerce

The once-legendary publication ended print editions in March, now lays off digital staff

Australian clothing retailer PAS Group enters voluntary administration

Australian clothing retailer PAS Group Ltd on Friday said it had entered voluntary administration to review its operations, citing the tough financial market conditions and the crisis caused by the coronavirus pandemic.

Nissan Shares Fall as Turnaround Spending Leads to Massive Loss

Nissan Motor Co. shares fell as much as 7.7% after the Japanese automaker posted a 671 billion yen ($6.2 billion) net loss for the latest fiscal year due to new restructuring measures and the coronavirus pandemic.

China cbank injects 670 bln yuan via reverse repos for week, rate unchanged

SHANGHAI — China’s central bank kept the interest rate on seven-day reverse repurchase agreements unchanged at 2.

Top Stock Reports for Novo Nordisk, IBM & Honeywell

Today's Research Daily features new research reports on 16 major stocks, including Novo Nordisk (NVO), International Business Machines (IBM) and Honeywell International (HON).

Consumer confidence lifts in May but still at record lows - bank survey

Major purchase intentions have improved but over half of respondents expect bad times ahead.

COP26 climate talks pushed back to November 2021

The UN's climate science advisory panel makes it clear that time is not on our side

PARTLY FALSE: First Philippine Holdings 'made P24.6B profit, but only paid P10M income tax'

The P10 million that First Philippine Holdings Corporation paid in income tax is part of a total of P5.175 billion in income taxes that the company and its subsidiaries paid in 2019

South Korea taps domestic tourism to revive industry

'Can we find tourism with eased social distancing? The brief answer is ‘yes’ but it’s going to be in domestic tourism and in a very limited way, very careful way,' says Korean tourism expert Wangoo Lee

Let’s speed up digital change at banks

There is space available for digital-enabled SME-focused entities to make headway

Outlook & trading strategies for Silver, crude oil by Tradebulls Securities

The outperformance in Silver is because it could benefit from optimism about increased industrial demand as economies reopen following the COVID-19 pandemic

Nifty view & stock calls by Nilesh Jain of Anand Rathi: Buy Titan, HCL Tech

If Nifty is unable to surpass its previous swing high of 9584.5, we can expect profit booking at higher levels

Here's a derivative strategy on Tata Motors by HDFC Securities

Long build up was seen in the Tata Motor Futures' on Thursday where we have seen 67% (Prov) rise in the Open Interest with price moving up by 2.9%.

Book your hotel room... But check in whenever

HOSPITALITY chiefs claim the Executive's decision to allow hotels in the north to take advance bookings "at risk" from June 8 but with no definitive dates is "causing confusion - and could lead to job losses on a massive scale".

Number of FDI projects in Northern Ireland fell last year, but report finds US investors largely unfazed by Brexit

THE number of foreign direct projects in Northern Ireland fell by 15 per cent last year, but a new survey from EY suggests overseas investment should remain relatively resilient despite the impact from coronavirus.

Smiley Monroe resumes production at reduced capacity

LISBURN manufacturer Smiley Munroe, which makes heavy-duty conveyor belts and custom-cut rubber parts, has resumed production at a reduced capacity after a two-month covid-enforced temporary closure.

BookMyShow lays off, furloughs 270 employees

Online ticket booking platform BookMyShow has laid off or furloughed 270 employees as it expects its revenue to be "greatly reduced" in the coming months, hit by the COVID-19 pandemic and lockdown.

Mubadala Investment Company eyes stake in Jio Platforms: Source

Abu Dhabi-based sovereign investor Mubadala Investment Company is in discussions to invest in Reliance Industries' digital unit Jio Platforms, a source said.

State could see $16 million in coronavirus costs through September, panel told

Health insurance claims for 47,000 state employees stemming from COVID-19 illness could cost the state more than $16 million through September depending on how extensively stay-at-home guidance and...

RPT-Asia Rice-India prices retreat from highs, Vietnam sees fresh offers

(Repeats story sent on May 28)* Vietnam sees higher demand from Cuba, Malaysia and Philippines* Fewer takers for expensive Thai rice variety* Bangladesh likely to miss output target for 'Boro' riceBy Nakul IyerBENGALURU, May 28 (Reuters) - Indian export rice prices retreated this week from a more than one-year peak that slowed demand, while Vietnamese rates held near a two-year high as countries battling the coronavirus pandemic sought to bolster stocks.

The TV commercial, once advertising’s main event, suffers in the pandemic

Before the coronavirus pandemic, the TV networks were expecting a strong 2020. The presidential election and Tokyo Olympics would keep people watching, and companies would spend more than usual on commercial time.

Number of South Korean budget phone users continues to fall in March

The number of budget smartphone users in South Korea continued to drop in March with its market share threatening to sink below the 10-percent mark, data showed Friday. Local subscribers to so-called mobile virtual network operators (MVNOs) numbered 7.61 million as of the end of March, down 0.6 percent from the previous month, according to the data from the Ministry of Science and ICT. MVNOs rent networks from the ...

Samsung Group heir summoned again over succession-related allegations

South Korean prosecutors called in Samsung Group heir Lee Jae-yong again Friday as part of an investigation into a controversial merger between two Samsung units. The summons came three days after Samsung Electronics Vice Chairman Lee was questioned for 17 hours about suspicions surrounding the 2015 merger of two major affiliates: Samsung C&T Corp. and Cheil Industries Inc. Prosecutors suspect Samsung's top man...

McDonald’s Korea wins award for job creation efforts

McDonald’s Korea said Friday it has won an award from the Korean government for its efforts to create decent jobs and implement employee-friendly policies. The firm received the 2020 National Industrial Award in the employment-friendly category on Thursday, hosted by the state-run Institute for Industrial Policy Studies and co-sponsored by the Ministry of Trade, Industry and Energy and the Ministry of SMEs and...

Hyundai Oilbank launches new mascots ahead of major takeover

Hyundai Oilbank said Friday it has launched new mascots as it finalizes its acquisition of the gas station business of SK Networks. The South Korean oil refiner introduced three dinosaur mascots -- Gio, Dio and Kio -- named to represent its respective brands for gasoline, diesel and kerosene. It is poised to take over some 300 gas stations from SK Networks. The takeover is expected to allow Hyundai Oilbank to det...

Singapore to establish AI framework for 'fairness' credit scoring metrics | ZDNet

Monetary Authority of Singapore tasks two teams, comprising banks and artificial intelligence industry players, to develop metrics that ensure the "responsible use of AI" for credit risk scoring and customer marketing.

Jobs promise as Marston’s joins forces with Carlsberg

Jobs are likely to come to the West Midlands as it becomes the headquarters of a major new UK brewing operation.

Coronavirus cash boost for Dudley transport workers

Transport workers will see their coronavirus funding quadrupled after council bosses backed down in a pay row.

Former Goodyear workers help with war memorial restoration

A war memorial has been officially opened after a £25,000 restoration.

Covid-19’s Attempt To Snuff Out African Tobacco Is Going Up In Flames

At the end of March, South Africa had imposed the most severe and controversial lockdown in Africa. To add to its combating efforts against the coronavirus, the nation included a ban on the sale of alcohol and tobacco. The effects rang throughout Southern Africa, the unofficial capital of the continent’s tobacco business. In as much as Covid-19 presented a challenge for the industry, there is reason to believe that the later would be greater than the present. Developing Africa has become an attractive market for the tobacco industry due to its increases in its income, growing population size, foreign direct investment (FDI), and improved life expectancy. A Ban That Backfired South Africa plans to ease its nationwide lockdown as from June 1, allowing limited alcohol sales and the reopening of bars. But, the government does not show signs of lifting the ban on tobacco products like vapes and snus.

Carmageddon awaits unless work from home continues

With social distancing likely to be the norm over the next two years, the notion of sardine-packing residents into trains, buses and trams is obviously no longer viable if Australia is to contain outbreaks of COVID-19.

Nissan falls behind rivals in industry's critical transitional period

Nissan Motor Co.'s business downturn may be causing a costly delay in the global race toward new mobility technologies, analysts say.

GloFo abandons China fab

Globalfoundries has filed papers to officially close its FD-SOI fab in Chengdu, China and lay off its 74 employees.

Buhari submits Nigeria's budget to parliament

The proposal sent to both chambers of Parliament on Thursday is only marginally lower than the record 10.59 trillion naira budget approved in December by Buhari. It follows the inclusion of new items,

The number of borrowers going interest only increases, as 24% of housing and 41% of business loans were interest only at the end of April

The number of borrowers going interest only increases, as 24% of housing and 41% of business loans were interest only at the end of April

China's post-Covid 19 'techno-nationalist' industrial policy

While Covid-19 brings China one step closer to technology-perfected authoritarianism through improvised health apps and real-time surveillance, Europe is busy looking inward.

EU wants more money to hedge against hard Brexit

The EU needed higher financial guarantees from states over the next seven years in order to hedge against the cost of a potential no-deal Brexit in 2021, Johannes Hahn, the EU' budget commissioner said Thursday. "Our proposal is to increase the [budget] c...

US: more than 40m job losses due to coronavirus

The number of Americans who lost their jobs in the past 10 weeks soared to more than 40 million, with unemployment claims continuing to rise, the Guardian writes. Earlier this month, department of labor reported that more than 20 million Americans lost th...

Cyprus expects 600,000 tourists in August

Cyprus expects to receive some 600,000 passengers in August, transport minister Yiannis Karousos said Thursday, noting that this estimate includes people flying in on commercial and private planes, Ekathimerini writes. "There is a gradual lifting of measu...

EU Commission aspires for treaty change on health

The European Commission has proposed a €9.4bn stand-alone programme dedicated to health known as EU4Health. The proposal is touted as a first step towards a possible Treaty change when it comes to health.

UK needs to move in negotiations, EU trade official says

The EU is willing to move in negotiations on future EU-UK relations, but Britain must make a bigger effort in talks, EU trade commissioner Phil Hogan said Thursday, adding that negotiations had not made much progress. "Perhaps the UK has come to the concl...

Safari park's luxury lodges opening delayed until Easter 2021

The opening of West Midland Safari Park's new luxury lodges has been delayed until next year due to coronavirus.

U.S. Stock Market Regains Lead As Top Global Performer For 2020

The leadership switch knocked China's equity market to second place at the close of trading in the U.S. on Wednesday, May 27. After leading SPY on a year-to-dat

Don't Go All Negative On Me

Given the current state of the U.S. economy and the prior dislocations in the money and bond markets, there has been an increasing amount of chatter regarding w

The Topsy-Turvy S&P 500 Earnings Picture

I am hard-pressed to see how S&P 500 earnings in this frustrating pandemic will only fall to $125 in calendar 2020. The once hoped-for V-shaped recovery has giv

TripAdvisor: Travel Rebound Play

TripAdvisor has permanently stripped out $65 million in operating expenses. Travel is starting to rebound as the CDC confirms COVID-19 pulled forward deaths of

ViacomCBS slashes up to 400 jobs as part of merger restructuring: source

ViacomCBS Inc is cutting up to 400 employees across CBS as part of its plan to save US$750 million from its merger with CBS, a source familiar ...

Costco Wholesale revenue rises 7.3per cent on coronavirus-induced stockpiling

Warehouse club operator Costco Wholesale Corp reported a 7.3per cent increase in quarterly revenue on Thursday, as people stocked up on ...

Italy's credit agency SACE approves state guarantees for FCA US$7 billion bank loan: source

The board of Italy's export credit agency SACE has approved state guarantees covering 80per cent of a 6.3 billion euro (US$7 billion) bank loan ...

Nordstrom sales plunge nearly 40per cent on pandemic-led store closures

Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40per cent slump in quarterly sales, as lockdowns to contain the ...

Salesforce cuts annual sales estimates on COVID-19 hit

Salesforce.com Inc cut its annual revenue forecast on Thursday, citing the impact caused by the COVID-19 pandemic during first quarter.

LATAM's bankruptcy filing to delay its Brazil bailout to at least July: sources

LATAM Airlines Group's U.S. bankruptcy filing this week will delay its potential bailout in Brazil to at least July and also push back aid to its ...

Oil and gas geopolitics and its end

Let us see how oil barrel prices have really fluctuated in recent weeks: in April, in fact, the European and Asian Brent benchmark, in parallel with the US West Texas Intermediate (WTI), decreased by about 1 U.S. dollar per barrel a day.   The WTI, however, is a mixture of different light and sweet American crude […]

FX option expiries for May 29 NY cut

FX option expiries for May 29 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.1050 547m - GBP/USD: GBP amounts 1.

GBP/USD still faces further consolidation – UOB

Cable is still seen navigating within the 1.2150/1.2350 range, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday t

NZD/USD faces a tough barrier around 0.6230 – UOB

NZD/USD should clear the 0.6230 region to allow for the continuation of the uptrend, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “

Asian stock markets: Mildly offered, ASX 200 drops 0.75% ahead of China news

With the escalating tensions between the global champions, the US and China, Asian shares remain pressured while heading into the European session on

SportSG announces $3m digital scheme

With the sports and fitness industry still largely shuttered, the fraternity was given a boost yesterday as Sport Singapore (SportSG) announced a new programme to help them go digital. The $3 million Enterprise Innovation and Capability Grant was rolled out by Minister for...

EUR/USD: Busted through the 200-day ma scope for the 1.1240 December high – Commerzbank

EUR/USD has at long last taken out the 200-day ma and its current May high at 1.1012/19 with gusto, with scope for the 1.1240 December high, Karen Jon

German Retail Sales drop 5.3% MoM in April vs. -12% expected, EUR/USD keeps 1.11

more to come ...

Poland: NBP surprising cut leaves room for the zloty to weaken – TDS

The NBP has again surprised the consensus by cutting rates by 40bps to 0.1%, economists at TD Securities apprise. EUR/PLN trades at 4.4563 after risin

US: Surprised drop in continuing claims intensified the greenback retracement

Initial Claims added 2.1 million, the lowest in 10 weeks while Continuing Claims fell 3.86 million in the previous week. The US dollar is losing groun

NZD/USD: Surfing the euphoric wave above the 0.6170 support – ANZ

The kiwi is surfing the euphoric wave of risk-on sentiment again, trading at 0.6206, but economists at ANZ Bank are concern regarding unemployment. Ke

Gold: Strongly rejected at $1727.37

The trend on the hourly chart below is still firmly down. This current wave higher could be the next lower high and there could be some signs of a rej

PM Kariņš: "In retrospect, we were right" on coronavirus strategy

Prime Minister Krišjānis Kariņš gave an update on the economic and business environment created by the coronavirus crisis May 29 in an online discussion hosted by the American Chamber of Commerce in Latvia and the Foreign Investors' Council in Latvia.

We'll All Be Renting a Local Airbnb This Summer

Yes, people are itching to travel, but their first holidays are likely to be close to home.

Banks' $47b bonanza as buyers back recovery

Growing optimism that the economy will emerge from the pandemic in better shape than previously expected triggered a monster bank buying spree.

Employers slam Victorian Premier's office lockdown

Daniel Andrews has banned workers from returning to offices until at least July.

Committee for Ballarat webinar explores economic recovery post COVID-19

While the path to economic recovery from the coronavirus pandemic remains uncertain, leaders are looking to identify and capitalise on new opportunities for regional Victoria.

Lagos BRT increases fares by 50%

Samson Folarin Due to the impact of the COVID-19 pandemic, Primero Transport Services Limited, operators of the Bus Rapid Transport, have said fares will increase by about 50 per cent. The compan...

Access Bank plans more loans for health care - The Nation Nigeria

Access Bank Plc is set to disburse loans through the Central Bank of Nigeria (CBN) credit support scheme to boost the pharmaceutical and healthcare...

Non-essential shops to reopen: What shops will it include and when will it happen?

The government has unveiled a full list of the shops which will be allowed to reopen in England under new guidelines from 15 June. The measures are part of the second phase in Boris Johnson’s roadmap

Job security of migrant workers depends on employers, economy

The job security of migrant workers who return to work after quarantine will depend on their employers and the state of the economy, said National Development Minister Lawrence Wong yesterday. He was responding to a question from a reporter who noted that migrant workers,...

USD/JPY: Extra consolidation remains the name of the game – UOB

In opinion of FX Strategists at UOB Group, USD/JPY is still seen navigating within the current consolidative theme in the next weeks. Key Quotes 24-ho

China-led AIIB approves $750-million loan for PH's virus response

The loan from the Beijing-based multilateral lender will be used to increase the Philippines' testing capacity and provide conditional cash transfers to poor households

UNWTO launches global guidelines to reopen tourism

The World Tourism Organization (UNWTO) has released a set of guidelines to help tourism sector emerge stronger and more sustainably from COVID-19. The guidelines highlight the need to act decisively, to restore confidence and, as UNWTO strengthens its partnership with Google, to embrace innovation and the digital transformation of global tourism. The guidelines were produced in consultation with the Global Tourism Crisis Committee and aim to support governments and private sector to recover from an unparalleled crisis. Depending on when travel

Savenio establishes affiliate advisory board

Independent luxury travel network Savenio, has established its first advisory board of five network Affiliates who will support the growth of the brand as it navigates the new post-COVID travel landscape. “Savenio is a truly independent network of travel Affiliates, each running their own business according to their own priorities and clients and this new advisory board will help us to share ideas, abilities and strategy across the network,” Savenio Managing Director David Brandon said. “We wanted to establish a group of

easyJet's cost-cutting may be misguided as international arrivals expected to return to 2019 levels by 2021, says GlobalData

Following easyJet’s announcement that it plans to reduce its fleet, staff and operational costs amid the COVID-19 crisis, John Vandesquille, Travel & Tourism Analyst at GlobalData, a leading data and analytics company, offers his view: “With travel in Europe almost at a standstill, trimming costs is a necessity in the short term. However, easyJet’s latest announcement stems from management’s belief that travel demand will not return to pre-COVID levels until 2023.There is an element of risk here because demand could return

Flight searches and bookings remain down overall, however positive signals are there

With our access to real-time traveller audiences and unmatched visibility into global travel demand, we’re in a unique position to share the current travel trends at the forefront of marketers’ minds. In this blog series, we’ll take a look at the data in order to aid travel marketers in their assessment of this worldwide event. They can use these trends to inform their marketing strategies during this period and be prepared for the recovery once the situation stabilises. These insights are

Study on impact of coronavirus on European convention sector

FRAKFURT / LONDON - The Strategic Alliance of the National Convention Bureaux of Europe has released the results of a study on “The Impact of Coronavirus on Europe’s Convention Sector”. The analysis, prepared by Tourism Economics, aims at providing a constructive narrative of the meetings and conference sector’s pathway through the crisis, towards recovery, and has developed three scenarios to reflect the possible range of outcomes from this crisis. Baseline, upside and downside scenarios for European convention community The baseline scenario assumes that

Global DMC Partners releases latest Meetings & Events survey results

WASHINGTON, D.C. – Global DMC Partners (GDP), a leading global network of independently owned destination management companies (DMCs) and creative event experts, announced the results of its most recent Meetings & Events Pulse Survey, focusing on the widespread impact of the COVID-19 global pandemic to the MICE industry. Conducted April 27 through May 4, 2020, the survey polled 374 respondents from the meetings and events industry. Of these, 93 percent were planners versus vendors or suppliers. While the survey touched

Industry cries foul over Mahavitaran's new billing system

An industrial unit from Sangli whose consumption was 7595 units in March under new system received a bill for 37,650 units and got five times bill.

'This Is Very Bad': SAS, Norwegian Air Post Huge Losses Amid Flights Grounded by COVID-19

The COVID-19 crisis has effectively stopped most international air traffic; Norwegian Air and SAS, Scandinavia's largest airlines, have been forced into bailout...

FDI to drop, Michael Smurfit interview and a ‘welfare mentality’ towards SMEs

Business Today: the best news, analysis and comment from The Irish Times business desk

Sinn Féin draft plans for affordable housing scheme

Amid reports of a stalemate of housing in government formation talks, Sinn Féin has sent a draft circular to all local authorities which it says will bring clarity to providing public housing.

Hawaii governor to extend traveler quarantine past June

HONOLULU — Hawaii Gov. David Ige on Thursday said he would extend the state’s 14-day quarantine requirement for travelers arriving in the state beyond June 30. The state mandated the quarantine

Indian IT eyes captives as global companies rejig operations

Global companies look to outsource work to large services firms to offset demand slowdown.

Almost half a million Australians will have their robodebts refunded

The federal government will refund $721 million recouped from 470,000 people through the controversial “robodebt” scheme. Under the contentious “robodebt” program, welfare r…

Cabinet to discuss omnibus bill on Brexit

Tánaiste Simon Coveney will bring a memo to Cabinet today on Brexit which maps out how the Government should deal with the continuing uncertainty surrounding the UK's future trading relationship with the European Union.

Wipro names former Capgemini COO Thierry Delaporte as new CEO; Neemuchwala to leave on 1 June

Thierry Delaporte, who will replace Abidali Neemuchwala, was most recently the chief operating officer of Capgemini Group.

Lagos attracts $250 million investment for new industrial, residential development

Lagos State government yesterday said that it had attracted investment worth $250 million for its new industrial cum residential development aimed at boosting economic activities and jobs.

Pandemic accelerates desire to pass down wealth

Fear over potential tax rises leads to a rise in people gifting assets to family members

Will London’s newest skyscraper become a monument to the market peak?

Demand across the sector has plummeted as businesses look to cut costs and rethink how staff work

Big food brands sidestep retailers in pandemic

Kraft Heinz and PepsiCo become latest groups to sell online, but can direct delivery take off?

US graduates in crisis: ‘Entry level jobs are not safe at all’ | Free to read

Economists warn downturn could reshape the lives of American youth for decades to come

BBVA calls for easing of coronavirus restrictions

Spanish bank’s chairman Carlos Torres says move is needed to kick-start economy

Mortgage repayment cliff beckons

A Senate committee has been told that businesses and households have now deferred around $250 billion worth of loan repayments due to the coronavirus pandemic. However, Australian Prudential Regulation Authority (APRA) chairman Wayne Byres conceded that some customers will not be able to repay their loans when they are required to resume repayments:

Text Message Finance: Stackin’ Raises $12.6 Million

Stackin' has raised a $12.6 million Series B funding round led by Octopus Ventures, according to a company release. Other investors in the funding round includ

Indian Fintech U GRO Capital Partners Global Value Creation Partners to Offer Better Online Lending Services to SMEs

Indian Fintech U GRO Capital, an online lending platform for SMEs, has teamed up with Global Value Creation Partners (GVCP), in order to provide better financin

Agent Scott Boras urges clients not to 'bail out' MLB club owners

Agent Scott Boras recommends his clients refuse Major League Baseball’s attempt to cut salaries during negotiations with the players’ association, claiming

As Australia opens back up for businesses, jobseekers are once again searching for roles in hospitality and other hard-hit sectors

The Australian job market has just undergone what will go down as its strangest few months on record, as businesses begin reopening their doors.

Furla to Open New Plant, Introduce New Store Concept

The Italian accessories company has been streamlining its distribution and raising its positioning.

New Recycling Consortium an Open Call to Curb Textile Waste in Philly

Recycling start-up Retrievr makes an open call to fashion brands to partake in the recycling journey in Philadelphia.

Stine Goya on Rethinking Scale — and the Runway

The popular Danish label's creative director and ceo speak of their decision to skip two fashion week seasons, scale down collections and accelerate their sustainability commitments.

Shinola to Launch ‘The Champ’ Watch to Honor Health-care Workers

The multicolored, limited-edition timepiece was originally planned to launch during the Summer Olympics.

It’s another uneventful year as aviation enters grim future

President Muhammadu Buhari prior to 2015 election promised the aviation community just one item: a new national carrier in the status of the defunct Nigeria Airways. His choice of Capt. Hadi Sirika

China's global influence to rise post-pandemic: European scholars

German expert warns US withdrawal from WHO will hand over more power to China

Poor families ate less during lockdown, says survey

The findings are part of the Livelihoods Survey conducted by researchers at the Centre for Sustainable Employment, Azim Premji University.

Pandemic job losses slow down

The pace of job losses is slowing but still extreme, setting the expectation that job loss will still be at a historic high next week.

Czech Billionaire Bets Big on Industries Other Investors Avoid

Daniel Kretinsky's latest contrarian move: U.S. retailers.

Brookfield re-enters race for Virgin with surprise bid

It remains unclear how Brookfield's 11th-hour pitch will affect the rest of the process, which will see the administrators reduce the bidders to just two.

ASIC bans ex-Linchpin Capital boss Peter Daly for five years

Two fellow directors have also been banned by the corporate regulator after a failed attempt to keep.

East African Portland Cement To Fire More Employees

The East African Portland Cement Company (EAPCC) has announced fresh lay offs through voluntary early retirement for all employees.According to acting managing director Stephen Nthei, the scheme i

As it ramps up public healthcare, India must give more room to private sector

Only a healthy nation can grow. The COVID-19 pandemic has presented India with an opportunity. The Indian healthcare system can go through a radical overhauling, where it can be more sustainable as well as responsive.

Brazil wants India to step up ethanol production to ‘balance’ world sugar market

Last year, by producing more ethanol, we took away 10 mt of sugar from the world market, but for which it would have collapsed,” Eduardo Leão de Sousa said in an interview to The Indian Express.

Google considering taking stake in Vodafone Idea: Report

A deal with Google could be a lifeline for Vodafone Idea, which owes as much as Rs 54,000 crore in adjusted gross revenue dues to the government.

Covid-19 pandemic may create opportunities to deepen India’s engagement with Africa

India could also create a new fund for Africa and adapt its grant-in-aid assistance to reflect the current priorities. This could include support for new investment projects by Indian entrepreneurs especially in the pharmaceutical and healthcare sectors in Africa.

China, India soak up oil from floating storage as demand recovers

A total of 3.4 million tonnes of crude oil was discharged from floating storage into Asian markets in the past seven days, with China the top destination at 1.8 million tonnes and India second at 842,679 tonnes.

Total FDI exceed $ 4180 million in nearly eight months: MIC

Yangon—In nearly eight months of the current fiscal year, the total Foreign Direct Investments have exceeded 4,180 million US dollars, according to the statement by the Myanmar Investment Commission (MIC).  A total of 13 foreign investments—four proposals and two approvals by the MIC, three approvals by Yangon Region Investment Committee and four by Bago Region Investment Committee. The FDI amounts to 735.696 million US dollars, creating 9,761 jobs for locals. 

Merkel Is Seizing Her Chance to Revolutionize Germany's Economy

(Bloomberg) — On a gloomy Friday in March, with the devastation of the coronavirus becoming clear, senior officials in Chancellor Angela Merkel’s government realized that extraordinary measures were needed to shore up Europe’s largest economy.

Government invests $800,000 in King Country freshwater project

The announcement comes after new freshwater regulations were announced on Thursday.

Jaishankar discusses post-COVID-19 economic recovery with EU foreign policy chief

 External Affairs Minister S Jaishankar on Thursday held discussions with European Union foreign policy chief Josep Borrell on initiatives to promote post-Corona economic recovery and preparations

Natural Gas Price: Room for extra pullbacks

Open interest in Natural Gas futures markets increased for the second session in a row on Thursday, this time by around 30.6K contracts. In the same d

AUD/USD Price Analysis: Greenback’s drop accelerates the rise above 0.6600

AUD/USD takes the bids around 0.6658, up 0.20% on a day, during the pre-European session on Friday. The Aussie pair recently gained traction after the

Crude Oil Futures: Further gains not ruled out

According to preliminary readings of crude oil futures markets from CME Group, open interest and volume rose by around 4.6K contracts and by nearly 45

Gold Futures: Upside appears limited

Open interest in gold futures markets noted investors trimmed their open interest for the fifth consecutive sessions on Thursday, this time by nearly

New heat seam machine for sealing PPEs launched

At a time when the country was battling the spread the coronavirus pandemic, which has affected the economy, three garment firms in Tiruppur along with an engineering industry have come up with a new heat seam sealing machine used for sealing PPE units under Prime Minister Narendra Modi's Atma Nirbhar scheme. Continue Reading →

Origin turns to gaming to fend off disruption

Origin Energy has teamed up with a computer game platform to offer customers rewards, one of several innovation strategies to keep ahead of a rapidly changing market.

How our very richest tripled their fortunes in a decade

Two macro themes have helped to deliver an extraordinary jump in the fortunes of our richest Australians.  

Mayfair 101 fund's prize asset under a cloud

Receivers of Mayfair 101's IPO Wealth Fund are questioning a deal involving its largest investment, a stake in Indian software venture Accloud.

Masterplan for Buninyong Botanic Gardens

Councillors agreed to take the first steps towards a new masterplan for Buninyong Botanic Gardens.

Virtual marketplace helps firms sell wares online

Businesses adapting to lockdown can now sell their products directly to customers online through a virtual marketplace.

Planned Tasley garden village could include doctors' surgery

A proposed garden village development near Bridgnorth could contain a small doctors' surgery.

Royal Welsh Show counts cost of coronavirus shutdown

The Royal Welsh Show could take five years to recover from the financial hit of coronavirus, organisers have said.

Reveal Group is First and Only Partner to Achieve Blue Prism "Double Platinum" Capability Certification

Company Sets New Standard for Intelligent Automation Delivery CapabilitiesNEW YORK & SYDNEY — Reveal Group, a global leader in Robotic Process Automation (RPA) and Intelligent Automation deployments, today announced that it has been recognized by Blue Prism (AIM: PRSM) as the first and only certified Double Platinum Capability and Delivery Provider in the world.

Fears for several fashion stores after PAS Group enters voluntary administration

PAS Group, which owns a number of big name fashion brands including Review and Jets Swimwear, has entered voluntary administration. The company announced the news in a release to the ASX on Friday…

Wale Jana sends heartfelt apology to his investors

Embattled business man and CEO of Sapphire Scents, Wale Jana has taken to social media to apologize to his investors, as he submits himself to an independent recovery plan. Wale Jana’s business crumbled and investors’ money

Ringgit opens higher against US dollar

KUALA LUMPUR, May 29 ― The ringgit strengthened against the US dollar in early session today on an overnight recovery of oil prices but investors are cautious by a possible escalation of the United States (US)-China trade war risk, said an analyst. At 9.08am today, the local note was quoted at...

Wooden furniture manufacturers face liquidity problems amid COVID-19 crisis - VietNamNet

Vietnam’s wooden furniture industry was expected to have a prosperous year in 2020 after the US-China trade war broke out in 2019. But hopes have been dashed by Covid-19.

California Senate Rejects Governor Newsom’s Call for Cuts

The California State Senate rejected Governor Gavin Newsom’s proposed budget cuts to sectors like education and healthcare Thursday, instead seeking to draw down more reserves, raise taxes on certain industries and borrow against the future to make up an estimated $54 billion shortfall.

Work from home set to become new norm for BPO sector

WESTERN BUREAU: Some of the leading developers of space in western Jamaica are now taking a wait-and-see attitude towards the COVID-19 sparked work-from-home (WFH) arrangement, which some outsourcing firms are expressing an interest in expanding....

Westmoreland Municipal Corporation to open new headquarters on Monday

WESTERN BUREAU: AFTER SEVERAL missed deadlines, Savanna-la-Mar’s Mayor Bertel Moore is adamant that the newly built Westmoreland Municipal Corporation (WMC) headquarters will be opened on June 1, albeit it not being 100 per cent completed. “We...

Kia Motors to invest additional $54 million in Andhra plant despite COVID-19 pandemic

Kia had earlier said the company has a long-term commitment to the Indian market and invested USD 1.1 billion in the manufacturing plant at Anantapur

Coronavirus impact: Govt needs to act before COVID-19 slaughters the Rs 1 lakh crore Indian poultry industry

Poultry industry supports over 25 million farmers and employs over five million directly and indirectly in allied fields

Wall Street has billions to lose in China from rising strain

Five big US banks had a combined $70.8 billion of exposure to China in 2019.

Better prepared for future crises

Although there were early warnings of an exponentially growing pandemic, most policymakers around the world were unprepared and reluctant to act when Covid-19 first spread from China around the world. In an article published in the Journal of Risk Research, Aengus Collins, Marie-Valentine Florin (both EPFL International Risk Governance Center) and IASS Scientific Director Ortwin Renn analyze the key factors and offer recommendations on how we can better prepare for future crises.

Bank of Russia to Develop Digitial Mortgage on Blockchain Platform

Russia’s central bank, the Bank of Russia, is looking to develop a digital mortgage on Masterchain, a government-backed blockchain project.

FTC approves Hyundai Oilbank-SK Networks merger

South Korea’s antitrust watchdog has approved Hyundai Oilbank’s plan to take over SK Networks’ gas station business, officials said Friday. Upon the approval, Hyundai Oilbank has become the second-largest in the industry in terms of the number of gas stations as it has acquired 306 SK Networks gas stations. SK Energy remains number one. The oil refining firm signed a contract with SK Networks to ...

S. Korea hints at intervention in FX market

SEJONG -- South Korea's finance minister said Friday the government will act boldly if volatility rises in the foreign exchange market. Finance Minister Hong Nam-ki said "herd behavior" has been seen recently in the foreign exchange market and speculative trading has caused some moves in the Korean currency, referring to a one-sided movement. "The government will act boldly with its market stabilizat...

[Newsmaker] BTS label Big Hit gears for IPO

The South Korean music label behind K-pop sensation BTS has filed for a preliminary review for an initial public offering, according to the nation’s stock market operator Korea Exchange (KRX) on Friday. Founded in 2005 by music producer Bang Si-hyuk, Big Hit Entertainment houses BTS and other K-pop singers and bands, including Lee Hyun and Tomorrow X Together. Bang, who serves as the entertainment firm’...

LG chairman visits LG Science Park to mark 2nd anniversary

LG Group Chairman Koo Kwang-mo emphasized his vision for the future at LG Science Park in Magok, Seoul, to mark the second anniversary of its opening, the group said Friday. On Thursday afternoon, Koo visited the complex and discussed the group’s digital transformation, artificial intelligence and securing talented people, according to the firm. At the site, he asked the employees to create a “culture...

Water market may not be 'good thing for the country', Basin chief says

The Murray Darling Basin Authority chief says water markets favour high-margin crops over traditional industries at the cost of regional communities.

Buhari’s herculean task of lifting countrymen out of despair, poverty

Having shrugged off the challenge of Atiku Abubakar, the candidate of the main opposition Peoples Democratic Party (PDP) at last year’s polls, President Muhammadu Buhari

F1 Analysis: Why Williams is up for sale

Formula 1's decision to lower its cost-cap to $145m per season from 2021 was widely celebrated on Wednesday, but the economic impact of the COVID-19 pandemic was underlined on Friday as Williams revealed it would be open to selling its team. ADAM COOPER delves into the situation facing one of F1's fiercely independent teams

Ending lockdown

"The economy went dead. It has to be revived."     On Monday, June 1, 2020, most Filipinos will enjoy the benefits of relative freedom. June 1 is the first day after Asia’s strictest and the world’s longest lockdown ends, on May 31.

Home in on that house

If you thought the 2% cut in stamp duty was a good thing, wait a while.

California elected officials face no pay cuts despite economic turmoil brought by coronavirus pandemic

Despite millions of people continuing to face unemployment, garnished wages, or pay cuts, elected officials in California can consider their salaries safe from reductions during the ongoing coronavirus pandemic.

Silver Price Analysis: Struggles to gather upside traction despite diamond breakout

Silver is currently trading near $17.41 per ounce, representing a 0.21% gain on the day, having faced rejection near $17.50 on Thursday. The metal wit

USD/CAD Price Analysis: Seesaws between 61.8% Fibonacci retracement, 100-day EMA

USD/CAD drops from the intraday high of 1.3785 to 1.3773 amid the initial hour of Tokyo trading on Friday. In doing so, the pair retreats from 100-day

Last time the Japanese government described industrial production as decreasing rapidly was in November 2008

Following a slew of Japanese data today, a Japnese govt official has stated that the last time the Japanese govt described industrial production as de

How Will Africa Fare After COVID-19? By Haleed Sulemana

The African Free Trade Area Agreement (AfCFTA) that would see African countries trade within its borders without priority to Western countries should be fast-tracked and made operational. This will allow the African Union and other African sectors to easily assert their agency globally.

Tennessee Valley Fair scheduled for September

Organizers say the Tennessee Valley Fair is still on schedule for this September.

Lynas forced to defend disclosure on US military funding

Amanda Lacaze-led Lynas knew the US Department of Department process was on hold in April but she did not alert the market until May 22.

Fashion retailer PAS Group goes into administration

The company behind names like Review and JETS Swimwear has hoisted the white flag leaving 225 stores and 1300 staff in limbo.

Frydenberg talks markets to US Treasury secretary

Treasurer Josh Frydenberg has spoken to US Treasury secretary Steven Mnuchin about the rebound in equity markets and the stabilisation of credit markets.

How can I qualify for pension cap indexation?

Indexation of superannuation pensions - if it ever happens - won't be available to all, writes John Wasiliev, who seeks answers to your questions about super.

CBK warns 75pc of small businesses risk collapse

Small traders have had to close under coronavirus lockdown measures.

Finance Ministry statement on controversial Covid-19 tender

PERMANENT Secretary in the Ministry of Finance and Economic Development, George Guvamatanga, has been in the eye of a storm amid reports he authored a letter to the Health Ministry pushing for the payment of funds to suppliers of Covid-19 equipment.

German Rights Body GEMA Says Strong 2019 Created 'Crisis Airbag' for Members Sidelined by Pandemic

The German copyright society GEMA carried over momentum from the previous year and increased revenues by nearly 5% in 2019.

Erin O'Toole promises increased childcare support as part of COVID-19 economic recovery plan

Both frontrunners in the Conservative leadership race, O'Toole and Peter MacKay, have now released their plans for leading Canada out of the COVID-19 crisis

Life in lockdown: Coronavirus prompts half of French consumers to reappraise ‘value’ of food

During eight weeks of lockdown, or confinement, over half of French people report having changed their view of the social, economic and ecological value of food production.

Hawaii explores ‘travel bubble’ with Japan amid tourism collapse | Honolulu Star-Advertiser

A pilot “travel bubble” with Japan that allows for relaxed travel restrictions between the two destinations might be a way for Hawaii tourism to start coming back from the 99.5% plunge that it took in April.

Tourists could begin to return to Hawaii by late summer, economic report says | Honolulu Star-Advertiser

The latest economic projections from the University of Hawaii Economic Research Organization suggest it will take at least two years for the mainland economy to recover from the coronavirus pandemic, with tourists beginning to return to Hawaii in late July of this year.

$60m funding boost for NZ libraries announced at Turanga

The government chose Christchurch's central library, Turanga, as the venue to announce a $60 million cash injection for NZ libraries on Friday.

Central Otago council axes two iSites

The axe has fallen on two Central Otago iSites and seven jobs as the district's council grapples with cutting costs in the wake of Covid-19. One job...

NZ's largest furniture retailer to open, 180 jobs created

New Zealand's largest furniture and homewares retailer Nido will open its doors to the public tomorrow. The new $60m, 27,000 sq m store in West...

108 jobs on line in Tower proposal

Tower says it will aim to cut costs by $7.2 million per year which includes a proposal for 108 redundancies. The NZX-listed insurer announced the...

Auction tests demand for Queenstown property

Bidders in Queenstown have started testing the water in one of the country's most expensive property markets. This story was first published by RNZ...

Date set for Shotover Jet comeback

Shotover Jet will once again be operational when Ngai Tahu Tourism restarts next month. It axed 309 jobs across New Zealand when it mothballed 10...

Wage subsidy auditing figures only collected quarterly - MSD

Government ministers are not receiving up to date figures on breaches of the $10 billion wage subsidy scheme, and one Minister's office says "it's...

$1.4m to help Queenstown workers who have lost jobs

The hard-hit Queenstown Lakes District has been given $1.4 million in Government funding to help redeploy workers who have lost their jobs because...

Computer Science – The best thing to study for a high starting salary in South Africa

Research by Analytico found that Computer Science graduates received the best starting salaries in South Africa.

Defend your hard-earned savings with Revix’s tokenised gold promotion

Invest in tokenised physical gold without any risk.

Cigarette ban threatens to bankrupt companies

The ban on the sale of cigarettes is one of the most controversial regulations in place as part of South Africa’s COVID-19 lockdown.

PIC willing to convert R90 billion of Eskom debt into equity

Africa’s biggest fund manager, the Public Investment Corp., is willing to convert more than 90 billion rand ($5.2 billion) of Eskom Holdings SOC Ltd. debt into equity.

No Bombshells From Trump, FX Rally In Relief

Forex Analysis by Kathy Lien covering: AUD/USD, USD/CAD. Read Kathy Lien's latest article on Investing.com

UK property firm Rightmove sees record website views as market picks up

UK property firm Rightmove sees record website views as market picks up

China excludes clean coal from list of projects eligible for green bonds

China excludes clean coal from list of projects eligible for green bonds

Fed’s Mester Leans Against Yield-Control Move at June FOMC

Fed’s Mester Leans Against Yield-Control Move at June FOMC

Sale of shut Philly refinery to real estate developer delayed

Sale of shut Philly refinery to real estate developer delayed

Fed's Mester says it's hard to imagine quick V-shaped recovery

Fed's Mester says it's hard to imagine quick V-shaped recovery

Stocks - US Futures Lower; Consolidating Ahead of Trump Speech

Stocks - US Futures Lower; Consolidating Ahead of Trump Speech

French economy shrank less than first thought in first quarter: INSEE

French economy shrank less than first thought in first quarter: INSEE

Brazil GDP to fall 5% or more this year: central bank chief Campos Neto

Brazil GDP to fall 5% or more this year: central bank chief Campos Neto

Metals Nearing Critical Momentum For New Parabolic Rally

Commodities Analysis by Chris Vermeulen covering: XAU/USD, XAG/USD, Gold Futures, Silver Futures. Read Chris Vermeulen's latest article on Investing.com

United Airlines cutting 13 top jobs under fresh restructuring

United Airlines cutting 13 top jobs under fresh restructuring

Chile jobless rate hits 9% during pandemic, highest in decade

Chile jobless rate hits 9% during pandemic, highest in decade

Pandemic saps union clout as talks loom with Chile copper miners

Pandemic saps union clout as talks loom with Chile copper miners

'Make Europe Great Again' recovery fund to reverse euro's fortunes: BofA

'Make Europe Great Again' recovery fund to reverse euro's fortunes: BofA

Bank of Canada to hold rates at 0.25% through end of next year: Reuters poll

Bank of Canada to hold rates at 0.25% through end of next year: Reuters poll

Japan's consumer mood higher in May but still 'extremely severe': government

Japan's consumer mood higher in May but still 'extremely severe': government

Sterling rises 0.5pc versus weaker dollar, flat versus euro

LONDON, May 29 ― The pound rose around half a per cent against a weaker dollar yesterday, but was little changed against the euro, as Brexit-related risks and speculation about negative interest rates continue to limit the pound's gains. The safe-haven dollar fell to a near two-month low as...

In rescue effort, Fed has broad stake in corporate America's fortunes

In rescue effort, Fed has broad stake in corporate America's fortunes

Volkswagen approves further projects in Ford alliance

Volkswagen said on Thursday its supervisory board had approved further projects in its alliance with Ford .

Volkswagen board formally okays Ford alliance projects

Volkswagen said on Thursday its supervisory board had approved further projects in its alliance with Ford .

Stay-at-home virus order eases pushing gasoline prices higher

SOUTHLAND – (INT) – Supply and demand is pushing gasoline prices higher as the COVID-19 lock-down eases and people become more mobile. Prices are moving closer to 3-dollars-a-gallon. The Automobile Club’s Gas Watch puts the California average for 87-octane regular at $2.88. In the Riverside-San Bernardino area, pump prices gained 6-cents-a-gallon the past week for an average of $2.85. “Gas price averages continue to be more than a dollar lower than this time last year and more than 60 cents lower than at the beginning of March when the pandemic began affecting gasoline demand,” Auto Club spokesman Jeffrey Spring said.

Job losses hit less-educated hardest

SAN FRANCISCO - (INT) - The COVID-19 recession has already led to much larger declines in employment than occurred throughout the Great Recession, and jobs have been lost much more quickly. As with past recessions, less-educated workers are bearing the brunt of these declines. Nationwide, almost 20 million workers lost jobs between February and April this year (among adults age 25 and over). Employment declined by about 7 million over a much longer period during the Great Recession. So far, less-educated workers—those without bachelor’s or graduate degrees—have accounted for 80% of all employment declines in the pandemic recession. Workers with degrees also tend to do better during economic recoveries. After the Great Recession, employment growth among educated workers was robust, but employment among less-educated workers never fully recovered. Employment among college graduates is much higher today (by about 11 million) than at the economic peak prior to the Great Recession. In contrast, employment among less…

Coronavirus updates: NYC on track to reopen June 8; Trump to scrap relationship with WHO

New York City is on track to begin reopening June 8, consumer spending in the U.S. has dropped dramatically, and that cold you had in December or early January was not coronavirus, a new study says. Meanwhile, President Trump says he’s terminating US relationship with the World Health Organization. There are more than 5.8 million confirmed cases around the world, with 1.7 million in the United States, according to the Johns Hopkins University data dashboard. The virus has killed more than 101,000 people in the U.S., and over 360,000 people worldwide. Here are a few developments to know: · A new comprehensive federal study says the coronavirus arrived in the U.S. starting in mid-January to early February. · Gov. Andrew Cuomo said Friday that New York City is on track to begin some reopening on June 8. · The Boston Marathon has been canceled for the first time in its 124-year history, and there are plans for a virtual race instead. · Thousands of restaurants, nail salons and other small businesses unable to take…

Coalition warns schools cannot safely open this fall

SACRAMENTO – (INT) - The Education Coalition, comprised of the nine statewide K-12 education associations that work to advocate for the six million students in California’s public schools and colleges, urged California’s lawmakers to adopt a funding solution to the COVID-19-related budget crisis in the June budget. The group said that without adequate funding, schools cannot open on time safely. Under the Governor’s proposed budget, a 10% cut ($6.5 billion) to the Local Control Funding Formula equates to: • Cutting $1,230 per student, or • Cutting $21,667 per classroom, or • Increasing class sizes by 19%, or • Laying off more than 57,600 teachers, or • Laying off more than 125,000 education support professionals. The group announced Thursday that preparing each classroom, library, gym, lunchroom, and school bus for the safe return of students, teachers, and staff will require significant resources and planning. Without adequate funding, this will not be feasible, even after public health officials provide guidance…

Southwest plans full flight schedule at OIA

ONTARIO – (INT) – Southwest Airlines, which accounts for half of Ontario International Airport’s commercial flights, says it will return to a full flight schedule by the end of the year. “This is great news for the aviation industry at a time when all of us need good news,” said Mark Thorpe, chief executive officer of the Ontario International Airport Authority. “The coronavirus pandemic led to decreases in passenger volumes by 90% or more virtually overnight and caused many to question whether recovery would come within years, much less months.” In addition, Southwest says it will initiate new, non-stop service between Ontario and Houston on November 1st.

Fired Samsung worker climbs down Seoul tower after year-long protest

Dismissed in 1995 for union activism, one man took on South Korea's most powerful conglomerate and has finally reached a settlement. For over 300 days, supporters passed the protester food and clothes using only a rope.

Audacity is necessary in Ecuador

In Ecuador the time has come to undertake audacious changes, collectively, amid grief, uncertainty and fear brought about by the COVID-19 pandemic.

No coverage for businesses impacted by COVID-19, says IAJ

Insurance Association of Jamaica (IAJ) President Vernon James says whil...

Jamaica’s Vision 2030 plan under review

THE Government has commenced work to review and revise the requisite strategic actions fo...

Gov't committed to making Internet access a right, says minister

MINISTER of Science, Energy and Technology Fayval Williams says COVID-19 has brought into...

Day Trading Guide for May 29, 2020

₹945 • HDFC Bank S1S2R1R2COMMENT 930913960975 Make use of intra-day dips to buy the stock while retaining a stop-loss at ₹930 levels ₹707 • Infosys S1S2R1R2COMMENT 695685715725 Initiate fresh long

Canada's vulnerable to money laundering on par with similar countries: expert

VANCOUVER — A senior police officer from the United Kingdom with expertise in money laundering says "underground banking" linked to China has become a significant threat in the U.K. and he believes Canada shares some of the same vulnerabilities.

Paris-based Neobrain snaps up €3 million to support employees during change

French HRtech startup Neobrain, which uses AI to support organisations and people during times of change and crisis, has secured €3 million of investment from French venture capital firm Breega. The startup will use the funds to expand internationally, grow its team and conduct more research on the

China's Didi Chuxing raises over $500 million for autonomous driving unit

The ridehailing giant said the round was led by SoftBank Vision Fund 2 and marks the first time Didi's autonomous driving business has brought in external funding since it was established.

Cisco to acquire software firm ThousandEyes

The deal is worth nearly $1 billion, Bloomberg reported earlier, citing sources.

COVID-19 pandemic: US consumer spending tumble in April

The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, plunged 13.6 percent last month.

Morgan Stanley not given advisory role on Aramco pipeline sale: Sources

The U.S. investment bank, which has previously advised the world's largest oil company, was originally looking to be part of the advisory group on any deal, the sources added.

China's Geely raises $836 million from share sale

Hong Kong-based Geely has sold 600 million primary shares at the bottom of the HK$10.80-HK$11.20 ($1.39-$1.44) price range, or at a 7.85% discount to the last closing price of HK$11.72, according to its release.

US joins G7 artificial intelligence group to counter China

White House's chief technology officer, Michael Kratsios, told The Associated Press on Thursday it is important to establish shared democratic principles as a counter to China's record of

Exclusive | PE firm ChrysCapital to buy out Capital International's stake in Intas Pharmaceuticals

Capital International wanted to exit the firm because its parent Capital Group is looking to shift focus away from the private equity vertical.

Japan's jobless rate rises to 2.6% in April: Government

The seasonally adjusted unemployment rate was 2.6% in April, up from 2.5% in March, figures from the Ministry of Internal Affairs and Communications showed. The median forecast was 2.7%

Market-wide rollover remains strong, expect Nifty to move towards 10,000-10,200

Marketwide rollover is seen at 93 percent. Nifty rollover is at 76 percent as compared to 3-month average of 70 percent. Bank Nifty rollover is seen at 81 percent as compared to 3-month average of 71 percent.

Due diligence important for residential real estate projects post COVID-19

The pandemic may impact cashflows to real estate projects with delays in customer collections and unwillingness of banks and NBFCs to provide further funding.

COVID-19 impact | Blackberrys to align physical stores with digital capabilities

Premium menswear brand Blackberrys is gearing up to restart its business after the COVID-19-led disruption.

Dilip Buildcon raises Rs 100 crore through NCDs

Highways builder Dilip Buildcon on Friday said it has raised Rs 100 crore through allotment of NCDs on a private placement basis. The company said it has allotted 1,000 Non Convertible Debentures (NCDs) of face value of Rs 10 lakh each.

Slideshow | Gainers & Losers: 10 stocks that moved the most on May 29

Among sectors, except IT other indices ended in the green. BSE Midcap and Smallcap indices rose between 1-2 percent.

MarTech Minute: Criteo’s Retail Media ad platform, Agilify Training’s virtual Scrum Master course

A quick round up of the latest marketing technology news and announcements.

Here's the list of outperforming stocks rising most since lockdown

Eight leading promoter-controlled business houses have emerged as the new Corona warriors for the stock market

Flight operations to return to pre-COVID-19 levels by Diwali: Hardeep Singh Puri

Domestic flight operations resumed in a staggered manner after a gap of two months on May 25.

Magic Leap CEO Rony Abovitz to step down

Magic Leap is not yet naming a replacement.

Covid-19 crisis and India’s next government

The Covid crisis has politicised a new crop of leaders who are young, smart, and committed to the country

Covid-19 crisis: UP sees sense on migrant workers, Maharashtra should too

A shortage of workers in one state or another could result in a spike in wage costs, throwing the economics of manufacturing or construction out of gear.

Relief for migrant labourers: Too late, too little

The govt’s measures for migrant workers won’t be of much effect. We must consider basic income transfers, otherwise we risk starvation due to indifferent public policy responses

Yes Bank Scam: Over 100 firms that ‘diverted’ money, Rs 87-crore gift to wife under ED lens

The Enforcement Directorate (ED) is poring over the books of more than 100 companies owned/controlled/managed by the founder of the troubled Yes Bank, Rana Kapoor, and his family members.

Bansal terms Modi-2.0 anniversary big zero; launches ‘zero hour’

Former Union Minister Pawan Kumar Bansal while launching a social media program called "zero hour", termed the first year of Modi-2.0 government as a big zero. Bansal said, the work of the government seems limited to just two slogans -‘ache din’ and ‘atamnirbhar’- while the people

Rural public to get ownership of own plot

Now the rural public can enjoy the ownership of their own plot. The villagers will get the records of their rights after the survey of the rural settlements in the State. Property registers will also be prepared at the panchayat level from the database prepared under the scheme for the benefit of

CUO to start 7 new programmes

The Central University of Odisha (CUO) is planning to start seven new inter-disciplinary courses, namely Life Sciences, Physics, Chemistry, Social Work, Psychology, Political Science and Public Administration and Public Health in the next academic year 2021. The proposal to start these new

Apathy to farmers: AIKSSS sends memo to PM

The All India Kissan Sangharsa Samanway Samiti (AIKSSS),Odisha unit, sent a memorandum to the Prime Minister of India on continued neglect to farmers’ problems and expressing dissatisfaction over the relief packages by the Government. The Samiti demanded ‘Sampoorna Karjamukti’ (full

MCD unlikely to resume property tax collection from June 1

The Municipal Corporation of Dehradun (MCD) will not resume property tax collection from June 1. The tax section of the corporation was closed for the public since the middle of March due to Covid-19 pandemic due to which many property tax payers of the city have not submitted their property

Instructions issued for 20-21 grant to MP’s urban bodies

The Tied Grant will be distributed to the cities with a population more than one million on the basis of the performance standard set by the Ministry of Housing and Urban Affairs and the Ministry of Environment, Forest and Climate Change, as recommended by the 15th Finance Commission. The basic

Phygital is the way forward’

Balbir Singh Dhillon, Audi India’s head, hopes that the sales will bounce back in the country powered by the YOLO mentality of customers As the country limps back to a sense of normalcy, I spoke with Balbir Singh Dhillon, Audi India’s boss about how he believes the luxury car market in India

Trump signs an executive order about social media platforms

Days after Twitter added 'fact check' to two of US President Donald Trump tweets, calling them 'potentially misleading', the latter has signed an executive order about social media platforms. The order is aimed at limiting the broad legal protections enjo

Tasting Australia Will Not Go Ahead in 2020

Originally shelved until October, the state’s biggest food and drink festival will now return in autumn 2021.

IMF Approves $732 Million to Help Bangladesh Address Effects of Coronavirus Measures on Economy

WASHINGTON (Sputnik) - The International Monetary Fund (IMF) said in a statement that it has approved a $732 million funding to help Bangladesh overcome the impact of...

Retail trade turnover in Latvia down 9% in April

Compared to April 2019, total retail trade turnover reduced by 9.0 % in April 2020. Turnover of retail trade in food products has declined by 3.5 %.

Working groups on economic task force to synergize efforts to revive economy: Conrad

GUWAHATI: Meghalaya Chief Minister, Conrad Sangma on Friday tweeted that the six Working Groups of the Economic Task Force on COVID-19 pandemic would work in tandem to draw up a systematic and synergistic plan to revive the economy of Meghalaya and c

SAVE OUR LUNGS, SAVE OUR HEART – SAVE DEHING PATKAI

 By Joanna Dawson & Saurav Malhotra,The first quarter of 2020 ushered in an economic crisis second only to the Great Depression. This is no ordinary crisis, but an ecological crisis of deforestation and wildlife-human virus transmission that has

WHO Foundation launched to support critical health needs

Geneva : The World Health Organization (WHO) has announced the creation of the WHO Foundation, an independent grant-making entity that will support the organization's efforts to address the most pressing global health challenges.WHO Director-General

Olu Kosoko's large heart - The Nation Nigeria

Prince Olu Kosoko, a Principal Consultant of Alpha Gravida Consulting Limited, is an expert in brand management and destination branding....

Big Banks Must Face Forex Manipulation Claims, U.S. Judge Rules

(Bloomberg) — A group of banks failed to persuade a judge to throw out a lawsuit claiming they conspired to rig foreign exchange rates.

Long Odds: China's bet on REITs draws skeptics

SHANGHAI/BEIJING — China’s plans to introduce real estate investment trusts (REITs) mark a crucial step to get private money to fund infrastructure such as toll roads and sewage systems, but authorities have their work cut out in creating a fully-fledged market.

It's not your wedding day - yet: COVID-19 gatecrashes weddings

According to research conducted by the Wedding Expo, the bridal industry was worth an estimated R20 billion a year.

EU’s $826 Billion Recovery Plan Criticized over Lack of Cultural Funding

European cultural figures are protesting a new $826 billion recovery plan that aims to mitigate the economic fallout facing the twenty-seven member states of the European Union because of the coronavirus pandemic. While the relief package has been described as ambitious by lawmakers, representatives from the EU’s creative industries are saying it does not provide enough funding for the arts, failing one of the sectors worst hit by the ongoing global health crisis.“This is about all of us and it is way bigger than any one of us,” said Ursula von der Leyen, the European Commission president, as

South Africa’s diesel shortage to last several weeks

A shortage of diesel fuel in South Africa will ease up in a few weeks when about 30% of its refining capacity, idled because of a drop in demand spurred by the Covid-19 lockdown, will return to service.

Pick n Pay opens alcohol pre-orders online as it prepares for high demand from 1 June

Pick n Pay customers can now pre-order liquor from its online shop and all orders will be delivered from 1 June 2020.

Layoffs, pay cuts and shutdowns as major South African hotels count R1.7 billion in losses

South African hotel and gaming group Tsogo Sun has recorded R1.7 billion in exceptional losses for the full year ended March 2020, after a nationwide Covid-19 lockdown led to a near-complete closure of its hotels.

Finbond Group plans to sell its South African operation and delist from the JSE

Credit-provider Finbond says that as part of its short and medium term strategic objectives, it plans on selling its South African operations to focus on North America and Europe.

Capitec sends out Covid-19 warning

Capitec, one of South Africa’s largest banks, has warned that the impact of the Covid-19 pandemic will dent future earnings.

Amid lockdown, BBMP nets Rs 1,028 crore in property tax

The BMMP has collected Rs 1,028 crore property tax in the first two months of the financial year 2020-21, reaching 42% of its target amidst the lockdown.

Millions vulnerable to poverty although world does not suffer food shortage: IFAD

According to the World Food Programme, 265 million people would suffer from hunger by the end of this year due to the coronavirus pandemic.

Days from launch, Fed officials eye 'Main Street' program expansion

Days from launch, Fed officials eye 'Main Street' program expansion

In Poland, key automotive industry has been hit most by crisis

Poland has a traditionally developed automotive sector, which normally is a driving force for the country’s industry and exports. This spring, however, passenger car production has dropped by 99% on an annual basis in Poland, according to the Polish Central Statistical Office, DW reports.

Latvia’s gross domestic product down 1.5% in Q1 2020

In Q1 2020, compared to Q1 2019, gross domestic product (GDP) decreased by 1.5 %, according to seasonally and calendar non-adjusted data. In Q1 GDP at constant prices was EUR 6.8 billion.

Latvian television channel LTV7 plans to drop national minority content

As of 1 January 2021 Latvian television channel LTV7 will no longer broadcast national minority content, as chairman of the National Electronic Mass Media Council (NEPLP) Ivars Āboliņš explained at an online discussion on 29 May.

Fossil Fuels

A federal court in Massachusetts remanded the state’s claims against Exxon Mobil alleging the oil company deceived investors by denying and downplaying the risks of burning fossil fuels on the planet.

COVID-19 impact | Commercial real estate space take-up may shrink by 20-25%

A few companies, especially mid-sized and large firms, may even consider the subscription-based option of work from home wherein their long-term real estate needs would be optimised.

Government mulls further measures for NBFCs, markets: Report

At a meeting chaired by FM Sitharaman, RBI officials raised concerns over liquidity challenges being faced by NBFCs and various state and micro finances.

Reviving Jet Airways: Long list of suitors surprises. But the big question remains

The list includes a few known, and some unknown names, and even an airline

Shri Krishna, Mahabharat most-watched TV shows; mythological genre sees strong traction in COVID-19 times

With the increase in viewership, channels are also increasing their programming for the genre.

PPE manufacturers complain about lack of clarity on standardisation guidelines

Hula Global, a Noida-based company which is into manufacturing and distribution of personal protection equipment, was counting on the huge windfall opportunity post-COVID-19 outbreak.

Wipro's new CEO: Can foreign executives succeed in Indian IT firms?

Wipro's peers TCS and HCL Tech have always placed faith in long-timers.

TV sees uptick in ad volumes; advertisers like Byju's and Netflix increase ad spends

New advertisers like Vivo, Cadbury, Kia Motors, Faasos , Bajaj, Sharp India, Hoichoi , Apple advertised on TV in week 20.

S&P, Dow Jones open lower on jitters over Trump's China response

The Dow Jones Industrial Average fell 76.49 points, or 0.30 percent, at the open to 25,324.15, and the S&P 500 opened lower by 4.56 points, or 0.15 percent, at 3,025.17.

COVID-19 impact | Re-mobilisation of workforce at project sites an arduous task: Voltas

In its March quarter (Q4) results, the company posted a 12.7 percent year-on-year (YoY) growth in net profit at Rs 160 crore.

Softbank-Bharti JV in talks for $500-$750 million fundraise: Report

Potential investors such as infra-focused private equity funds, sovereign wealth funds, global utilities and pension funds will be formally approached in the next weeks

Middle East rich most cautious after oil plunge, COVID-19 crisis: Barclays

Haider said risk sentiment was also down in Russia, another oil-rich economy, while appetite was subdued in India.

Lakme Fashion Week to launch ‘Virtual Showroom’

Lakme Fashion Week has announced the launch of a 'Virtual Showroom' with an aim to support designers, artisans and the business of fashion

PIC wants Eskom bonds turned to equity

SOUTH African state asset manager the Public Investment Corporation has submitted a proposal to the government on converting bonds it holds in struggling state utility Eskom into equity.

JPMorgan Agrees To Pay $2.5 Million To Settle A Class Action Lawsuit

JPMorgan Chase Bank NA, the customer and commercial branch of JPMorgan, consented to pay $2.5 million to settle a legal claim. The suit is identified with its past choice to consider acquisition of digital currency with its credit cards as loans. Plaintiffs To Get 95% of Harm For quite a…

Lawrence Weekly to host town hall on small businesses reopening

Clark County Commissioner Lawrence Weekly on Monday is hosting a Facebook town hall to answer questions that businesses might have as they set to reopen.

$120,000 from council to help restrengthening of Sacred Heart Cathedral

News from Wellington City Council Wellington’s Mayor and Councillors voted unanimously this week to contribute an urgent $120,000 grant towards the strengthening of the Sacred Heart Catholic Cathedral in Hill Street, Thorndon.

NZTA negotiating on new cost of Transmission Gully – paying advance of $14m

News from NZTA Waka Kotahi the NZ Transport Agency is making an advance payment to the builder of the Transmission Gully project to reflect the costs of the Covid-19 work shutdown.

Irish planning for no-deal Brexit to restart as EU-UK talks go badly

Simon Coveney likely to offer gloomy prognosis to Ministers at meeting today

Bandi Sanjay writes to Sitharaman to relax loans interest for MSMEs

Telangana BJP chief Bandi Sanjay Kumar urged FM Nirmala Sitharaman to consider relaxation of interest on loans for MSME)for a six month period.

CM KCR upbeat on achieving 165 TMC of additional water storage capacity

Chief Minister K Chandrashekhar Rao has said that the bold decision of taking up the multi stage Kaleshwaram Lift Irrigation Scheme

CM KCR heaps praise on KLIS project oustees 

CM Chandrashekhar Rao had special words of praise for the displaced persons who sacrificed their lands for the KLIS project.

Telangana focused on holistic women empowerment: Jayesh Ranjan

 Women’s empowerment needs a full-360 degree approach that starts from school and guides them through their work life.

Union tourism minister meets online travel agents, discusses post-lockdown protocols

Union Tourism Minister Prahlad Patel met a delegation of leading online travel agents (OTAs) of the country to discuss calibrated opening of hotels and accommodation units.

BJP condemns slash in salaries of TS government employees

BJP State Chief and Karimanagar MP Bandi Sanjay Kumar on Thursday condemned the government's decision to cut salaries

Creating infra worth Rs 2,209 cr in industrial parks: TSIIC Chairman

TSIIC Chairman Gyadari Balamallu said the State government was developing world class infrastructure worth Rs 2,209 crore in all industrial parks in the State.

CV Anand is NTPC’s new Regional Executive Director (South)

C. V Anand has been posted as the Regional Executive Director (South) of NTPC Limited at Southern Region Headquarters in Hyderabad

India’s oil import bill falls 10 per cent in FY 20

At least in the oil sector, the global health emergency posed by the spread of the novel coronavirus has come to the country's advantage.

Mahangu to yield surplus

LOCAL mahangu production is expected to yield a surplus of 23 metric tonnes this year while white maize will fall short of meeting local demand for the next six months (including May), by 5 961

Unprecedented unemployment

One in every four Indians is unemployed now. The coronavirus-induced lockdown for the longest period in the world has triggered job losses

Affordable electricity is a right

In Telangana, free power has played an important role in mitigating farmer suicides and also contributed to State’s food security.

Business News

PPI Announces Winners of Projects and Members of the Year Program The Plastics Pipe Institute, Inc. (PPI) announced the winners of its Projects and Members

Seoul stocks open lower on Wall Street losses

South Korean stocks opened lower Friday, tracking overnight losses on Wall Street amid rising Sino-American tensions over China's passing of a new national security law on Hong Kong. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 10.80 points, or 0.53 percent, to 2,017.74 in the first 15 minutes of trading. The fall was largely attributed to the latest development in the Sino-American dispute on ...

Kildare businesses call on Government to extend wage subsidy scheme

"Ahead of today’s Cabinet meeting, County Kildare Chamber has called for the Government to reform and extend the Temporary Wage Subsidy Scheme (TWSS) beyond its initial June deadline, and e...

Japan Might Be Subsidizing Your Travels When The Crisis Passes Over

Japan’s tourism numbers in April 2020 were reportedly 99.9% lower than those in April 2019.

Super League to retain salary cap but yet to decide on restarting season

A further update could come next week following a meeting of the working group which is finalising the available options.

Kogan Shares Soar To Record High

Kogan.com.au has noted unprecedented growth during the COVID-19 pandemic, and today the company’s share price soared by 5.2% to reach a record high of $11.11 as of 12pm.

Dell Hit By Coronavirus But Wins Millions In Govt Deals

SYDNEY: In its third year in a row, Dell Australia has posted a drop in profits. This year the company posted an after-tax profit of just over AU$31 million for the financial period ended January 31, 2020, slightly down from the $33.6 million recorded in 2019.

Will Hotels Win Back Customers By Cleaning Up Their Act (Literally)?

Hotels have seen their business slowed to a near stop and now they are working to stress cleanliness in a bid to get consumers checking in again.

SDF Invests $550K In SatoshiPay For B2B X-Border Solution

The Stellar Development Foundation has invested $550,000 in SatoshiPay's development of a B2B cross-border payments solution and its digital wallets.

LG ramping up production for iPad LCD panels

The surge is likely caused by the pandemic and the "work from home" policies by the Asians governments.

Samsung's global wearables shipments grew by 71% for the first quarter of 2020

The latest IDC report on the wearables market (for the first quarter of 2020 (1Q2020)) shows that its watch sector declined. However, this shortfall was addressed by gains made by the audio and band categories. Apple remained the #1 brand in terms of shipments, although Samsung posted the greatest year-on-year (YoY) growth.

Lies, damn lies and international students

The education lobby has been caught out exaggerating the collapse in international students, which according to Department of Education data, is actually not that large:

Telstra divides and conquers NBN

History doesn’t repeat but it sure does rhyme.

Take steps to help realty sector: Sharad Pawar seeks PM Modi's intervention to revive sector

Surat textile industry seeks govt help to stop migrant exodus

At least 60 per cent of the workforce is estimated to have left Surat since the Shramik Special trains started. According to Surat railway officials, over 6.80 lakh labourers have left Surat in 431 trains.

FIRS: The burden of leadership - The Nation Nigeria

But those who wear the crown know where it hurts. So it is with the leadership of the Federal Inland Revenue Service (FIRS) at....

Emission Reduction Credits

An appeals court in California reversed a determination that the Bay Area Air Quality Management District Hearing Board applied the wrong standard of review when it upheld a calculation awarding Valero fewer emission reduction credits than it had anticipated after upgrading a refinery. 

Best of BS Opinion: Diversity in boardrooms, earnings drought, and more

Here is a summary of Business Standard opinion pieces for the day

Franklin Templeton to soon start e-voting process for winding up six debt schemes

Sources in the mutual fund industry say that Trustees of Franklin Templeton MF will start sending notices to investors on the voting process and unit holders’ meeting in the next two-three days.

Facebook’s investment in Reliance Industries not surprising: Brett Biggs, CFO, Walmart

Walmart-controlled Flipkart and Amazon jointly hold 80% of the country’s e-commerce sector at present.

Lack of adequate funds, labour among challenges faced by projects in India: Survey

Promoters in the Indian projects fraternity find getting adequate funds at reasonable interest, finding labourers matching the skills of those who have left for their hometown.

FPIs sell over $2.6 billion of Indian bonds in May

India witnessed the highest FPI outflow from bonds among Asian peers this year followed by Indonesia that saw an outflow of $7.9 billion.

Britain’s biggest solar farm – the size of almost 1,000 football pitches – gets green light in Kent countryside despite fears it will harm the local area

The £450million project Cleve Hill solar park will be capable of generating enough electricity to power more than 91,000 homes through producing 350 megawatts.

Chinese companies in India dither to join country’s fight against Coronavirus; Make negligible contributions for the sake of optics

The major Chinese companies including Xiaomi, Vivo, Oppo, Huawei, Oneplus whose annual revenue is approximately INR 60710 crore, have just contributed INR 24 crore (0.04%) for India’s fight against coronavirus pandemic.

$3.3bn revenue from Year of Return cannot be true - Ablakwa challenges Tourism Minister

A claim by Tourism Minister, Barbara Oteng-Gyasi, that the Year of Return campaign introduced by government boosted tourism receipts by $3.3 billion in 2019 has been contested.

Asokore Mampong housing project completed, named after Otumfuo

The Affordable Housing project at Asokore Mampong in the Ashanti has been completed and named after the Asantehene, Otumfuo Osei Tutu II.

Ghana initiates 'Decade of African Renaissance 2020-2030'

Tourism, Arts and Culture Minister, Barbara Oteng-Gyasi, on Thursday, announced that a 10-year programme, called the “Decade of African Renaissance 2020-2030” has been initiated to grow Ghana’s tourism industry.

'Beyond the Return' steering committee inaugurated

The Minister of Tourism Arts and Culture, Barbara Oteng-Gyasi has inaugurated the 'Beyond the Return' Steering Committee to kick start the 10-year project.

Application for Coronavirus Alleviation Programme is free - NBSSI

Applicants of the Coronavirus Alleviation Programme (CAP) business support have been asked to be cautious of persons who offer to register them on the scheme at a fee.

The Great Bears do the bear market rally

Cross-posted from ZeroHedge is a fabulous post gathering together the world’s great bears.

Keir Starmer opens up clear lead over Boris Johnson in public approval

Those who approve of the Labour leader's performance include more than one in four Conservative voters.

Rishi Sunak's easing of the furlough may be the start of a painful era

We don't know the effects the coronavirus will have on the wider economy, so we can't know what scaling back government support will have.

Public opinion is hardening against reopening schools

The majority of parents believe it will not be safe to send their children back on 1 June.

Boeing resumes production of B737 Max

Production of the grounded aircraft was suspended in January…

Lufthansa adds long-haul routes from Frankfurt and Munich

Newly announced destinations include Frankfurt to Cairo, Beijing, Shanghai and San Jose, and Munich to San Francisco, Delhi…

Tucson car dealership pays customers $90,000 in restitution

State prosecutors say a Tucson used car dealership is repaying $90,000 for selling vehicles under false pretenses.

Lee asks state agencies to cut budgets by 12%

Gov. Bill Lee has asked all state agencies to find ways to slash their budgets by 12% and submit their new proposals by the end of June.

Stark casino, airport numbers show effect of Nevada closures

Stunning and stark numbers are showing the effect of casino and business closures enacted in Nevada in March due to the coronavirus pandemic.

New director for Arizona Department of Economic Security

The Arizona Department of Economic Security has a new director.

Tulip Time Festival needs to raise $1M after pandemic losses

The Tulip Time Festival in western Michigan needs to raise $1 million to stem losses from this year's canceled event due to the coronavirus outbreak.

California to vote on business tax hike worth up to $12B

California voters in November will decide whether to increase property taxes on commercial and industrial land to raise up to an estimated $12 billion annually for public schools and city halls across

Govt U-turns on royalties non-deductibility

THE taxman has decided to withdraw the earlier announced proposal to disallow tax deductibility of royalties for non-diamond mining companies.

Lockdown shuts 8 companies for good

EIGHT businesses have closed their doors, more than 25% of businesses temporarily closed, and 50% of those who operated, did so below their production capacity – all due to Covid-19 measures.

Rethink 5 000 fishing hopefuls – PDM

THE Popular Democratic Movement (PDM) has written to president Hage Geingob, asking him to intervene after 5 000 applications for fishing rights were rejected and threatening to take legal action to

No funds to pay green scheme workers

PETRUS Uugwanga, managing director of the Agricultural Business Development Agency (Agribusdev), on Tuesday said the agency cannot pay workers' overdue salaries at green schemes countrywide.

Would You Choose Restaurant Brands’ Stock Over McDonald’s?

McDonald’s stock has grown 20% in the last couple of years (since Jan 2018), but Restaurant Brands’ Stock has grown by only 10%. But it is hard to believe why McDonald’s stock is up more Restaurant Brands’ stock - especially since Restaurant Brands’ revenue growth for the 2017-2019 period stood at..

Stocks Turn Positive After Trump Keeps Phase One China Trade Deal Intact

Trump took a more confrontational approach with China on Friday.

PPP Gets A Promotion: House Passes Bill That May Save Thousands Of Businesses — And One Million Headaches

House passes PPP loan Bill.

Does Gap Inc Have Enough Cash To Survive Covid-19 Demand Shock?

With most retail stores shut and people holding off on discretionary spending, chains such as Gap Inc may be looking at an existential crisis - a big change from typical growth issues they tackle every day. The company’s stock has fallen 50% this year reflecting the demand shock that may push it...

The Paycheck Protection Program Could Have Been Great—It Wasn’t

With the first round of Paycheck Protection Program recipients about to submit for loan forgiveness, let's look back on the process.

John Paulson Adds 2 Stocks To Portfolio, Boosts Tiffany

Merger arbitrage specialist releases first-quarter portfolio

Used Car Seller Billionaires Ernie Garcia II And Son Accused Of Insider Trading In Lawsuit

The father and son team behind Carvana, the online used car seller, along with the company’s directors and investment firms controlled by the Garcias, allegedly traded on coronavirus fears to buy up shares at “bargain basement prices.”

Did Gold Do Better Than The Markets? (2020)

Gold sellers are touting a 7 year high in gold.

These 10 Billionaires Got $34 Billion Richer This Week, Led By Luxury Goods Tycoon Bernard Arnault

The biggest billionaire gainers are in luxury goods, fashion and cosmetics.

Report: Worldwide Alcohol Sales Won’t Rebound Until 2024

The global coronavirus pandemic may have initially caused a spike in U.S. alcohol sales at off-premise retail stores, but the long-term impact of decreased travel and on-premise closures could set the global booze business back five years, according to a new report from research firm IWSR.

The Brazil Tech And Innovation Round-Up: International E-Commerce Growth, Digital Exclusion Hits Black And Poor Brazilians, App Delivery Fee Cap

A selection of noteworthy developments in the Brazilian tech and innovation landscape during the week ending May, 29, 2020

What The Pandemic Means For The Gender Wage Gap

What can be done to close the wage gap, and decrease the disparity between men and women’s retirement income? It comes back to offering women caregiving benefits and work flexibility.

Why Molina Healthcare Stock Is Up 3x Despite Declining Revenue

Molina Healthcare’s stock (NYSE: MOH) has gained a whopping 240% since early 2017. But how did the company pull off such impressive gains, as its revenues actually declined 5% over the same period? Well, there is a valid reason, of course. As it turns out, the net earnings margins...

Why Goldman Sachs Is Running Downmarket To Embrace RIAs With Recent Acquisitions

Goldman Sachs continues to build its retail wealth management business, buying boutique custodian Folio Financial last week after the acquisition of United Capital last year

Mortgage Rates Hit New All-Time Low, But Rushing To Refinance Might Not Be Necessary

Mortgage rates hit yet another record-breaking low, but rushing to refinance may not be necessary.

Midwest Hyperloop Route Could Lead To $300 Billion In Economic Benefits

A feasibility study outlines the potential benefits of a corridor linking Chicago, Columbus and Pittsburgh.

Report: Whole Foods, King Soopers Make The Most Of Their Plant-Based Offerings

A report released Thursday by the Good Food Institute takes stock of the progress the top 15 U. S. grocery retailers have made in stocking, merchandising and marketing the growing array of plant-based meat, dairy and egg alternatives.

Small Businesses Can Bypass Complicated GAAP Rules For Crypto Accounting

Small businesses can follow tax basis accounting for crypto and avoid cumbersome GAAP rules

Delta And United’s China Plans Lift As Chinese Airlines Propose More U.S. Flights If COVID-19 Restrictions Ease

China Eastern could fly 45 weekly China-U.S. flights, China Southern 38 and Xiamen Airlines nine, the carriers told the U.S. government.

What Two Things Make Flyers Feel Safest Regarding COVID-19? See J.D. Power 2020 Airline Study

The industry will need to focus on restoring confidence, while continuing to improve on the operational side.

Post-Pandemic Music Industry Predictions: The Consolidation Of Power

The music industry has been slowly consolidating for years, and the pandemic may accelerate this trend. Major financial transactions around mergers, acquisitions and institutional interest estimate the industry value doubling in a decade, but how will this impact festivals, startups and artists?

Dow Jones Futures: Trump China News May Not Break Coronavirus Stock Market Rally; Renault, Twitter In Focus

Donald Trump, the U.S. president, appears poised to sign measures against China that would spur tensions further. He wants to punish Chinese officials

Twilio Shares Surge 98% YTD As Emerging Use Cases Drive Increased Demand

During the Covid-19 crisis, Twilio has emerged as a leading provider of the underlying infrastructure needed to power increased digital engagement. Management called out six emerging use cases for Twilio’s platform during the pandemic.

Got Cryptocurrency? Get Ready For An IRS Audit

The IRS is hiring cryptocurrency experts to assist in virtual currency audits, a clear signal those audits will be on the rise.

A New 32GWh Gigafactory Will Build Sustainable Batteries In Norway

The Norwegian company Morrow Batteries is going to establish a new gigafactory, which will be located in the strategic Agder county. Their aim is to “revolutionize battery production and establish a more sustainable supply to European car makers”.

TZERO Announced New Broker-Dealers Trading On Its Blockchain

tZERO, owned by OverstockOSTK, announced yesterday that broker-dealers ChoiceTrade and an unnamed investment bank focused on institutional brokerage are now live and trading on the tZERO blockchain Alternative Trading System (ATS). Both brokers are now subscribers to the tZERO’s ATS.

Recent Hiring Data Shows Gaming And Esports Companies Not Immune To Economic Woes

Consumers are turning to gaming and esports companies for entertainment during difficult times. So how are these companies faring during the pandemic?

NBN to get 250Mbps on entire HFC network by June 2021, only 7% can get 750Mbps | ZDNet

New wholesale pricing structure leaves cable users guessing.

Redesigning How We Work

Rethinking the way we do work.

StockBeat: Smelling the Coffee in Times of Coronavirus

StockBeat: Smelling the Coffee in Times of Coronavirus

Japan backs nearly a third of $6.6 billion loans to Nissan: sources

Japan backs nearly a third of $6.6 billion loans to Nissan: sources

Wells Fargo reveals new risk management structure

Wells Fargo reveals new risk management structure

The cities that could benefit most from the UK’s £500 million EV charging fund

According to new research from Uswitch.com, Stoke-on-Trent, Southend and Birmingham are among the cities that could benefit most from the Government’s £500 million ‘Rapid Charging Fund’.

Bank bid blows up

The Australian dollar is hovering at the highs this morning even as S&P futures fall:

Meniga lands $9.4m from Groupe BPCE, UniCredit and Crédito Agrícola

Meniga, an Iceland and UK-based digital banking and personal financial management (PFM) software provider, has landed $9.4 million (€8.5 million) in a strategic investment round led by new backer Groupe BPCE, France’s second-largest banking group.

Deutsche Börse signs market data deal with Chinese firm Wind

Deutsche Börse has signed an agreement with Chinese financial data provider Wind to grant Chinese investors greater access to European markets.

TSB partners with Adobe and saves on 15,000 branch visits

TSB Bank has partnered with Adobe to shift 80,000 customer interactions to digital channels over the last eight weeks in a bid to alleviate pressure on its customer service teams during the pandemic.

Equifax and HooYu sign KYC and onboarding partnership

Equifax has signed a know your customer (KYC) and client on boarding partnership with regtech firm HooYu.

Banking’s long divorce process

Banking, like any other business, is about two things: products and customers. So, it is no surprise that every incumbent core banking vendor manages these two aspects in their platforms. Although each has their own lifecycle, it is the product lifecycle that vendors focus hardest on.

Santander invests in Brazilian alternative lender a55

Santander InnoVentures, the Spanish banking group’s $200 million corporate venture fund, has invested an undisclosed sum in Latin American alternative small and medium-sized enterprise (SME) lender a55.

KfW completes multi-year deployment of FIS Ambit Focus

German state-owned development bank KfW has completed a multi-year implementation project with FIS.

Marqeta lands $4.3bn valuation thanks to mystery investor

Marqeta, the California-based card-issuing platform, has landed $150 million from an undisclosed investor, valuing the company at $4.3 billion.

Goldfinch Partners acquires payments fintech Vesta

Goldfinch Partners, a Washington-based private equity firm, has invested $125 million in Vesta in a bid to take control of more than 80% of the Oregon-based payments and fraud detection solution provider.

Bank of Cyprus goes live on HPS PowerCard system

Bank of Cyprus, the largest banking and financial services group in its home country, has completed a migration to HPS’s PowerCard solution.

Government announces furlough scheme changes – what you need to know

The Chancellor Rishi Sunak has announced a series of changes to the Government's furlough scheme today, including workers being able to go back part-time from July. Here's what you need to know

Government's self-employment support scheme extended – what you need to know

The Government's Self-Employment Income Support Scheme will be extended and will pay out another single grant covering three months, the Chancellor has announced today. It's also said this will be

National's first economic policy under Muller's leadership: A $10k cash payment to businesses for every new full-time hire - payment capped at $100k

National's first economic policy under Muller's leadership: A $10k cash payment to businesses for every new full-time hire - payment capped at $100k

Graham Conway appointed general manager of Select Car Leasing

Select Car Leasing have announced that Graham Conway will be stepping into a new role at the company, as general manager.

Fitch: Signal from US of possible change in its policy towards Hong Kong to heighten uncertainty

According to the latest report published by Fitch ratings on Friday, a signal from the US of a possible change in its long-standing policy towards Hon

Tristar Worldwide begins 45-day consultation process with workers

Addison Lee Group chauffeur division Tristar Worldwide has started a 45-day consultation with some of its workers, according to GMB London.

UK car production reaches lowest point since WW2

UK car production fell to its lowest level since the Second World War in April, down -99.7%, according to figures from the Society of Motor Manufacturers and Traders (SMMT).

MOT extended for 3m cars and vans under lockdown

A Freedom of Information (FOI) request submitted by MoneySuperMarket has revealed that more than 3m (3,025,345) cars and vans had their MOT extended since March 30.

Lightfoot launches FNOL service

Lightfoot has launched its First Notice of Loss (FNOL) service, alerting fleet managers to incidents and helping to enhance duty of care to drivers of fleet vehicles.

FMG appoints Claire Owens as new managing director

Huddersfield-based incident management and recovery business FMG, appointed Claire Owens as a new managing director in March, at the outset of the Covid-19 outbreak in the UK.

Ndolwane community reaps solar project benefits

THE Ndolwane community, deep in rural Bulilima District in Matabeleland South, about 92 km out of Plumtree Town, has started reaping the benefits of a 100 kilowatt (KW) solar power project recently rolled out by Econet’s Ugesi Energy. Businessman and philanthropist, Dr Strive Masiyiwa, through the “Re-Imagine Rural” initiative, recently completed the massive solar power project as part of his new rural electrification scheme targeting at least 10 growth points across the country. Ndolwane was chosen as the pilot project of Re-Imagine Rural Ugesi mini-grids. So far, Ugesi Energy has connected power to Ndolwane Primary School, about 10 shops at the business centre and Ndolwane Rural Health Centre including a handful of farmers involved in poultry projects, which the company is jointly funding with Turning Matabeleland Green (TMG). Ugesi Energy has already partnered with TMG and trained at least 50 communal farmers in Ndolwane on commercial production under the initiative being spearheaded by Hamara Group. Although…

RBZ cuts Zipit transaction limits

THE Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) has directed all banks to review downwards Zipit transaction limits to ZWL$20 000 a day from ZWL$100 000 following abuse of the facility by illicit foreign currency dealers. In a statement yesterday the Apex bank unit said it has directed Zimswitch, which operates the Zipit platform to immediately implement the new position. “The FIU has noted that the existing Zipit transaction limits, which have no monthly cap are being misused, primarily for illicit foreign currency transactions. “The current Zipit limits of ZWL$100 000 per day allow a customer (subject to any bank-specific limits) to move about ZWL$3 million per month, using a single account and much more if he or she is multi-banked and/or uses third party accounts,” said the FIU. It said the above limits have been reached on account that “very few” individuals in the country earn over ZWL$100 000 a day.

COMMENT: New forex retention ratio for gold miners should spur them on

The gold mining industry got what it had been calling for when on Tuesday, the Government increased the foreign currency portion the miners retain after selling the metal to Fidelity Printers and Refiners (FPR). Gold is the country’s top foreign currency earner but for years the hard currency earnings had not been cascading in satisfactory amounts down to those who really generate it. They had been complaining that much of the equipment they need to produce optimally is imported, thus has to be paid for in foreign currency which they didn’t have. It indeed was ironic that having worked so hard to produce the country’s biggest foreign currency earner, the miners didn’t have the foreign currency themselves. They had to queue for long periods for the cash at the Reserve Bank like everyone else, including those that don’t generate any hard currency. Often, the gold miners failed to get it. Their businesses suffered as a result. But their sustained lobby bore fruit on Tuesday. FPR increased the retention threshold…

Airlines issue travel vouchers to avert refunds

HARD hit by loss of business due to Covid-19 induced travel restrictions, airlines are issuing travel vouchers to passengers who purchased advance tickets and encouraging them to reschedule their flights instead of cancelling. A number of airlines have posted on their online platforms or websites while some have contacted passengers who booked with them before March when most of the flights were suspended, advising them to re-book for future using the same tickets. Some of the airlines are offering vouchers of the same value with the ticket held by the passengers for future use. Aviation is one of the sectors worst affected by the global pandemic with revenue losses estimated at around more than US$200 billion this year. The International Air Transport Association (IATA) has estimated a US$23 billion potential revenue loss by carriers in Africa and Middle East, with Middle East expected to lose US$19 billion and Africa US$4 billion this year. Aviation experts fear some airlines might collapse due to liquidity…

Union makes Senate submission saying ECEC educators deserve recognition

The United Workers Union has made a submission to the Senate Committee established to explore the Australian Government’s response to the COVID-19 pandemic asking them to consider seven key recommendations to ensure the essential workers of Australia, including those working in early childhood education and care (ECEC) are recognised with action that makes “a meaningful contribution to their lives and working conditions.”

Andrew Hume announced as new Acting CEO of ECMS

Early Childhood Management Services (ECMS) a Victorian based not for profit early childhood education and care (ECEC) provider has confirmed the appointment of Andrew Hume as their new Acting Chief Executive Officer effective 9 June 2020.

Costco's free samples will be back by June, but they may not be the same after the coronavirus

Costco CFO Richard Galanti spoke to analysts on Thursday about how the coronavirus has affected the warehouse club.

Should You Pick Ameren Over NextEra?

he stock price for NextEra Energy, the largest electric utility holding company in terms of market cap, is up by over 105% since the beginning of 2017, driven by the company’s fast-growing renewable energy business. In comparison, Ameren, a regulated utility that operates in Illinois and Missouri...

As Peet’s Coffee Parent Shares Surge Post IPO, Expect It To Be A Bigger Contender Against Starbucks

The coronavirus pandemic may have shut restaurants and cafes, but it’s not quenched the thirst for coffee: shares of Peet’s Coffee parent JDE Peet's surged 14% on Friday after an initial public offering, likely paving the way for Peet’s to be a bigger challenger against coffee house giant Starbucks.

Davines Group’s President on ‘Being There’ in Moments of Need

Giving voice to hairdressers and beauty operators, Davide Bollati has been instrumental in getting the Italian professional industry running.