Saturday July 4-th, 2020

Airbus reports 2019 net loss of 1.36 bn euros Airbus reports 2019 net loss of 1.36 bn euros

CEO Guillaume Faury called it "a strong underlying financial performance" while acknowledging that "of course we can not be satisfied" with the net loss . The long-delayed A-400M programme delivered 14 planes in 2019, on schedule, but is now hampere...

Billionaire Bezos buys estate for $165 mn Billionaire Bezos buys estate for $165 mn

The new house reportedly belonged to music mogul David Geffen. In doing so, the Amazon founder has broken a previous record of purchasing a residential home set in 2019 when media executive Lachlan Murdoch, son of Rupert Murdoch, paid KSh 15 bill...

Tesla shares drop after automaker announces $2 billion stock sale Tesla shares drop after automaker announces $2 billion stock sale

The company said it would offer 2.65 million shares , of which Musk himself will buy up to $10m in shares. Tesla shares fell as much as 7.2 per cent after announcing the offering and traded down 4.5 per cent to US$733 as of 8 a.m. The run has been...

Brandless, backed by SoftBank, closes its doors forever Brandless, backed by SoftBank, closes its doors forever

Brandless will stop taking orders and cut about 70 employees, less than two years after SoftBank Group Corp .'s Vision Fund said it would invest $240 million in the startup. The news was earlier reported by tech site Protocol . Most items are pri...

Bombardier sells off A220 stake, ending C Series chapter Bombardier sells off A220 stake, ending C Series chapter

Airbus paid Bombardier $591 million to boost its stake to 75 per cent, while Quebec now holds the remaining 25 per cent. The provincial government invested US$1 billion in the former C Series program four years ago, giving Bombardier a much-needed ca...

RCMP remove exclusion zone from Wet'suwet'en territory RCMP remove exclusion zone from Wet'suwet'en territory

One of the largest protests is the blockade of rail lines near Belleville that has been going on for more than a week, and disrupting VIA rail service. Other protest groups have also occupied the B.C. legislature. "I can only surmise that a number ...

Barclays: Regulators probe chief executive over Epstein links Barclays: Regulators probe chief executive over Epstein links

Barclays delivered a bombshell on Thursday, saying that United Kingdom financial authorities are investigating its CEO Jes Staley over his relationship to sex offender Jeffrey Epstein. "I wonder if he can survive this". "An FCA spokesperson said...

Powell says US Fed to aggressively use QE to combat next recession Powell says US Fed to aggressively use QE to combat next recession

US Federal Reserve Chair Jerome Powell says he is concerned that the coronavirus outbreak could disrupt the global economy. President Donald Trump's persistent calls for the Federal Reserve to lower interest rates are an effort to juice the e...

Bombardier exits A220 passenger jet program by selling its stake to Airbus

Bombardier has been re-organizing its business in an effort to pay off a multibillion-dollar deficit. Quebec Economy Minister Pierre Fitzgibbon says "positive" news for the province will likely be announced Thursday by Bombardier when the aircraft ...

Puerto Rico governor rejects new deal to cut debt by 70% Puerto Rico governor rejects new deal to cut debt by 70%

Vázquez said the deal didn't do enough to protect the island's retirees. Oversight Board Chairman Jose Carrion said the deal "lowers total debt payments relative to the agreement we reached last year, pays off commonwealth debt sooner and has sig...

Mastercard to prepare domestic operations in China Mastercard to prepare domestic operations in China

The news sent Mastercard (MA) shares higher. Last year, Mastercard set up a joint venture with NetsUnion Clearing Corp., a clearing house for online payments whose stakeholders included the PBOC, The Wall Street Journal had reported . The China-...

United Kingdom economy saw no growth at the end of 2019 United Kingdom economy saw no growth at the end of 2019

More positively, GDP grew by 1.4% in 2019, compared with 1.3% in 2018. Officials say GDP grew 1.4 percent for the whole of 2019, calling it one of the slowest annual expansions since the 2008 financial crisis. The UK left the European Union at the ...

Daimler slashes dividend as annual profits slump Daimler slashes dividend as annual profits slump

Much of the almost 5 billion-euro decline can be traced to 4.2 billion in charges the company took due to diesel-related investigations and the legal costs associated with it. Mercedes scrapped its X-Class pick-up truck and restructured its mobility ...

European Union to slap sanctions on Cambodia over human rights European Union to slap sanctions on Cambodia over human rights

The European Commission said on Wednesday that the measure will affect about one-fifth, or about 1.1 billion dollars' worth, of Cambodia's annual exports to the EU, including garments and travel goods. "This decision by the European Union to remove d...

January retail inflation at 7.59% hits a six-year high January retail inflation at 7.59% hits a six-year high

Retail inflation inched up to 7.59% in January due to costlier food items vegetables, eggs, meat and fish, increase in telecom tariffs and fuel costs, pushed India's retail inflation during January to 7.59% from December's 7.35%. "The "Quick Estima...

Wendy’s workers fired after video of sink bath shared on social media Wendy’s workers fired after video of sink bath shared on social media

The statement added the restaurant on N. Lafayette Street at Summit Avenue had been thoroughly cleaned and visited by the health department after the incident. Camp also told The Daily News that Team Schostak has also taken the "proper steps to mak...

Vodafone and TPG $15bn merger gets court approval Vodafone and TPG $15bn merger gets court approval

Today the two companies had their day in court and have come out victorious with Justice Middleton agreeing that the merger would not reduce competition. "These concerns were reinforced by statements from the industry welcoming the merger and the con...

Singapore's DBS sends 300 staff home after one contracts coronavirus Singapore's DBS sends 300 staff home after one contracts coronavirus

The third case is a Singapore citizen who also does not have any recent travel history to China. Singapore's biggest bank DBS DBSM.SI evacuated 300 staff from its head office on Wednesday as a precautionary measure following a confirmed corona...

WhatsApp now has more than two billion users around the world WhatsApp now has more than two billion users around the world

Messaging app WhatsApp said on Wednesday it now has over 2 billion users worldwide, making it the largest social media platform after Facebook Inc, its parent company. "WhatsApp - which has been criticised by rival Telegram for not being as secure as...

Google HR chief to step aside amid growing worker activism Google HR chief to step aside amid growing worker activism

Controversially, Google had also fired five employees involved in internal activism a year ago. Google says Naughton is stepping all the way down to be nearer to her circle of relatives and that she'll ultimately take any other function inside th...

Tightening the Noose around Dos Santos' Daughter Tightening the Noose around Dos Santos' Daughter

Portugal's public prosecutor said on Tuesday it had ordered the seizure of Portuguese bank accounts belonging to Isabel dos Santos, who is a suspect in a fraud investigation in Angola. Worldwide media outlets released a query called " Luanda Leaks " ...

Facebook takes control of London computer vision start-up Scape Technologies Facebook takes control of London computer vision start-up Scape Technologies

The start-up's cloud-based "Visual Positioning Service" translates images into 3D maps that deliver a precise outdoor location across entire cities. Total conditions of the deal remain as yet unidentified, though a Companies House update shows ...

LPG cylinder prices hiked by over Rs 100 across metro cities LPG cylinder prices hiked by over Rs 100 across metro cities

The subsidised 14.2-kg cylinders would cost ₹567.02 for domestic users and ₹546.02 for the PMUY beneficiaries. The new price in Kolkata stands at Rs 896, a sharp rise of Rs 149. dollar and rupee. Fuel retailers sell LPG cylinders at the market pric...

Brussels chief Brexit negotiator slams UK PM for backlashing on European Union rules Brussels chief Brexit negotiator slams UK PM for backlashing on European Union rules

Full access to our fishing grounds, following EU rules indefinitely with ECJ oversight, continued free movement and supporting EU foreign policy are just some of the usual tosh that demonstrates the EU elite are still in denial of Britain's democrati...

Singapore bank DBS evacuates 300 staff after coronavirus case surfaces - memo Singapore bank DBS evacuates 300 staff after coronavirus case surfaces - memo

As of 12 PM, DBS has evacuated all employees on the affected floor at the Marina Bay Financial Center (MBFC) Tower 3, according to the press statement.The employees will be working from home for the time being. The outbreak has revived memories of th...

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