Wednesday January 26-th, 2022

American Express quarterly profit plunges 76 per cent American Express quarterly profit plunges 76 per cent

The company expects operating expenses to be down about $1 billion year over year during the next three quarters and will "dramatically" reduce its marketing efforts, company executives said on a post-earnings call. Revenue fell 1% to $10.31 billion,...

France readying multi-billion euro loans for Air France, Renault France readying multi-billion euro loans for Air France, Renault

The French government announced a "historic" 7-billion-euro ($7.6-billion) aid package Friday to rescue Air France, whose planes have been largely grounded by virus lockdowns around the world. 'In the context of the very hard period that the Air Fran...

Smithfield Foods workers say they aren't allowed to cover mouths to sneeze Smithfield Foods workers say they aren't allowed to cover mouths to sneeze

That's just one of the ways in which Smithfield - the world's largest pork processor - has put the plant's employees at risk of catching and spreading the deadly coronavirus even as the pandemic has slammed other factories, the lawsuit alleges.

Wall Street Ends Bumpy Week With Gain Led by Technology Wall Street Ends Bumpy Week With Gain Led by Technology

In the USA, over 800,000 cases have been confirmed. Another 4.4 million US workers filed for unemployment benefits last week, raising the total over the last five weeks to 26 million, or roughly one in six USA workers. The Canadian dollar traded for ...

Oil heads for another weekly slide on coronavirus turmoil Oil heads for another weekly slide on coronavirus turmoil

Oil prices rose on Friday, but both the Brent and U.S. benchmarks were on track for their third straight week of losses as global production shutdowns failed to keep pace with the collapse in demand caused by the pandemic . Storage is quickly filli...

Oil extends gains on output cuts, US-Iran tensions Oil extends gains on output cuts, US-Iran tensions

Global benchmark Brent crude was slammed on Tuesday, hitting a two-decade low before rebounding. US West Texas Intermediate was down $0.6, or 5.2%, at $10.97. Oil extended gains in Asian trade Friday on signs that producers are already cutting ou...

Boeing scraps $4.2 billion deal to buy Embraer commercial division Boeing scraps $4.2 billion deal to buy Embraer commercial division

The April 24 deadline for closing had been baked into the deal since early previous year, but antitrust hiccups had forced the two companies to try to work out a new deadline. "Given the current economic reality of the global aviation market, it ca...

Busy Time For Canada Post Busy Time For Canada Post

The company says it is continuing to operate and has been delivering in "record numbers". Canada Post says the heavy volume of parcels and physical distancing requirements in facilities means customers should expect delays while waiting for their p...

Retailers suffer record collapse in sales after coronavirus store closures Retailers suffer record collapse in sales after coronavirus store closures

Sales volumes plunged by 5.1 per cent in March from February, the sharpest drop since the Office for National Statistics records began in 1996. United Kingdom retailers reported their steepest sales decline in March since records began - but alcoho...

Hospitality major OYO cuts pay, sends employees on leave in India Hospitality major OYO cuts pay, sends employees on leave in India

An Oyo spokesperson confirmed the development to Newsdio, but declined to share how many employees were being laid off. These employees will be entitled to ex-gratia support, health insurance, parental insurance and a chance to renew it at negotiated...

Government under pressure to support millions of struggling self-employed workers Government under pressure to support millions of struggling self-employed workers

In the press conference, the chancellor announced that the grants would be up to £2,500 per month, just above the median income and follows several support measures introduced to help businesses through this hard time. The government has come under...

CarPlay in your classic Porsche, just what you needed CarPlay in your classic Porsche, just what you needed

The PCCM blends harmoniously into the dashboard of Porsche classic cars thanks to the black surface finish and the shape of the knobs. For vehicles built between 1965 and 1998 (so, that's the 914, 924, 928, 944, 959, 968 and the first five genera...

Millions have received electronic coronavirus stimulus payments. When will checks be mailed? Millions have received electronic coronavirus stimulus payments. When will checks be mailed?

Some checks were sent to incorrect bank accounts , and many received a cryptic "Payment status not available" message on the IRS website . People waiting to get their payments by check may have to wait far longer - potentially months, in some cas...

Collapse in Aircraft Demand Drove Down March Factory Orders

Census Bureau announced. Durable-goods orders are likely to decline further as the full effect of the coronavirus-related shutdowns becomes clear in the coming months. Boeing saw a spike in canceled plane orders in March due to the travails of the...

PM unveils rent relief for businesses forced to shut down during pandemic PM unveils rent relief for businesses forced to shut down during pandemic

Provinces and territories have agreed to share total costs of the program, the federal government said. Asked about hard-hit businesses that can't cover the 25%, Trudeau pointed to other financial assistance programs for businesses put into place a...

Gildead drug Remdesivir flops in first trial Gildead drug Remdesivir flops in first trial

This anti-viral drug was developed by the USA pharma giant Gilead Sciences as a treatment for Ebola. The news followed by days a study that indicated chloroquine was ineffective against coronavirus, and death rates were higher among severely ...

US Congress passes additional coronavirus bill US Congress passes additional coronavirus bill

President Donald Trump today signed into law nearly half-a-trillion dollars in additional relief to several sectors to deal with the coronavirus pandemic and its blow to the American economy. Meanwhile, some of the businesses that have been able ...

Wall Street opens higher on signs of lockdown easing Wall Street opens higher on signs of lockdown easing

Investors were cheered by the climbing price of United States crude benchmark West Texas Intermediate, which was up 7.3 per cent to US$17.72 (RM77.3) a barrel, a solid recovery after the week began with a dramatic trading session that saw oil close a...

AR firm Magic Leap lays off employees at AR firm Magic Leap lays off employees at "every level"

Magic Leap confirmed the change in strategy in a statement posted on its website. Restructuring across Magic Leap occurs following the reports that the company may even be sold. The actual total is likely far higher because not all companies h...

House Passes $484 Billion COVID-19 Relief Package House Passes $484 Billion COVID-19 Relief Package

Congress yesterday approved another $320 billion for the program, meant to blunt the harm inflicted on small businesses by coronavirus pandemic measures that have put large sectors of the USA economy on ice. So far, 1.6 million small businesses have ...

Nevada Should Reopen in Early May — Wynn CEO Maddox Nevada Should Reopen in Early May — Wynn CEO Maddox

US President Donald Trump has issued guidelines for the states and businesses to reopen slowly and Wynn Resorts are gearing up to show that they are ready if Governor Steve Sisolak gives the green light. We will continue to refine and update the pl...

DraftKings now trading on Nasdaq with vertically integrated business model DraftKings now trading on Nasdaq with vertically integrated business model

The tie-up was expected to give the new company a market value of $3.3 billion. Co-founder and CEO Jason Robins addressed investors in a prerecorded audio statement posted on the company's website, which was not accompanied by a question-and-answ...

Unemployment weekly claims decrease in South Dakota, US Unemployment weekly claims decrease in South Dakota, US

Weekly claims appeared to have peaked at a record 6.867 million in the week ended March 28. Unemployment initial claims throughout the United States decreased 810,000 last week to 4.4 million. The department said there was an error in transferring ...

SAP Ends Co-CEO Role After Virus Brought Leadership Problem SAP Ends Co-CEO Role After Virus Brought Leadership Problem

He joined the company as a student in 1999 and had been chief operating officer since April 2016 before his October promotion, with Morgan, to replace Bill McDermott in the top job. The Buzz: "I am grateful to Jennifer for her leadership of SAP, i...

North versus south: Divisions dominate European Union talks on coronavirus recovery fund North versus south: Divisions dominate European Union talks on coronavirus recovery fund

At around 1% of the EU's economic output, the multi-year common budget has always been one of the most contentious subjects of debate for its members. "But now we are facing a political emergency as well". "We are only as strong as our weakest memb...

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