Saturday January 29-th, 2022

Amazon top executive quits to protest employee firings, forfeits $1 million

Acknowledging that vice presidents "shouldn't go publicly rogue", Bray said he raised his concerns through the proper Amazon channels "by the book". Bray said he is walking away from "a million (pre-tax) dollars, not to mention the best job I've ever...

Hong Kong's Economy Shrinks by 8.9%; Worst Performance Since 1974 Hong Kong's Economy Shrinks by 8.9%; Worst Performance Since 1974

Hong Kong will publish its GDP estimates for the first quarter on Monday after the stock market closes at 0830 GMT. On an annual basis, the economy contracted 8.9 per cent, compared with a revised 3.0 per cent in the fourth quarter of 2019.

Warren Buffett's Berkshire Hathaway sells all airline stocks amid pandemic

Berkshire Hathaway revealed that its cash pile has grown to $137 billion in the first quarter, reflecting this challenge of finding anything good to invest in, and reported a record $49.75 billion net loss, due to huge unrealized losses on stock hold...

Stocks fall as US-China tensions threaten rebound Stocks fall as US-China tensions threaten rebound

Strategists at Morgan Stanley called such a pullback , which could reach 10%, "a necessary pause that refreshes". Monday's biggest losses were concentrated in airlines, after Berkshire Hathaway disclosed that it sold all its stakes in American Air...

EU GDP shrinks by 2.7% in Q1 amid coronavirus pandemic EU GDP shrinks by 2.7% in Q1 amid coronavirus pandemic

It was the biggest drop since statistics started in 1995 and bigger than the plunge in the midst of the global financial crisis in the first quarter of 2009 after the bankruptcy of USA investment bank Lehman Brothers. Confirmed infections globally ha...

Wizz Air to Launch Budapest-Abu Dhabi Service Wizz Air to Launch Budapest-Abu Dhabi Service

Flights to Abu Dhabi from Bucharest and Budapest will launch on Wednesday, June 3. A second destination in Romania will also launch in September. From September 15, you'll be able to fly to Katowice in Poland on Tuesdays or Saturdays until October ...

Berkshire Records Nearly $50 Billion Loss as Buffett Talks Coronavirus Berkshire Records Nearly $50 Billion Loss as Buffett Talks Coronavirus

There's been a lot of speculation about what legendary investor Warren Buffett's Berkshire Hathaway will do with its massive cash pile, especially if he'll seek an "elephant-sized" acquisition. That's weighed on Berkshire's stock price, as the Clas...

J. Crew files for bankruptcy amid coronavirus lockdowns

The New York-based brand's parent company made the Chapter 11 bankruptcy filing in a Virginian federal court to buy itself breathing space as it plans to hand control over to its lenders, in exchange for the cancellation of $1.65bn (£1.3bn) of its de...

Uber to Require Drivers, Riders to Wear Face Coverings Uber to Require Drivers, Riders to Wear Face Coverings

Uber drivers and passengers may soon be required to wear a face mask to travel; the ridesharing firm is reportedly developing technology to detect whether chauffeurs are wearing face coverings before accepting trips. "As countries reopen, Uber f...

Coronavirus corrodes India's manufacturing; factory activity reaches record lows in April Coronavirus corrodes India's manufacturing; factory activity reaches record lows in April

The Nikkei Manufacturing PMI, that is compiled by IHS Markit, of 27.4 last month is by far the lowest growth recording since the survey began in March 2005 and its first time below the 50-mark (that separates growth from contraction) in almost thre...

Rolls-Royce considering cutting up to 15 per cent of its workforce Rolls-Royce considering cutting up to 15 per cent of its workforce

Rolls-Royce produces around 35% of all jet engines used on widebody airlines such as the Boeing 787, 777 and Airbus A330 and A350 models and has been at the forefront of designing more efficient engines. The company is now in the early stages of ...

Warren Buffet’s Berkshire Hathaway Sells Full Slate of U.S. Airlines Investments Warren Buffet’s Berkshire Hathaway Sells Full Slate of U.S. Airlines Investments

Warren Buffett is planning to lead an unusual annual meeting Saturday afternoon without any of the roughly 40,000 shareholders who typically attend, but the investor will offer some of the commentary that draws the huge crowds. Berkshire Hathaway, ba...

Westpac Bank First-Half Cash Profit Falls 70% Westpac Bank First-Half Cash Profit Falls 70%

King said. Net profit after tax dropped from $509 million the the corresponding period a year ago to $256 million, and cash earnings took a 47% dive to $295 million. Hit by steep costs from a money laundering scandal and a surge in charges for bad ...

May Day protesters in the US call for economic help May Day protesters in the US call for economic help

Correction: An earlier version of this story incorrectly stated that Whole Foods will require customers to wear face masks. Amazon said it has spent more than $800 million on hand sanitizer, gloves, masks, sanitizing wipes, gloves and installing mo...

Man wins $1.5 million Powerball jackpot twice in one day Man wins $1.5 million Powerball jackpot twice in one day

No tickets matched 5 of 5 numbers plus Power Play for $2 million. No tickets matched Saturday's Classic Lotto numbers of 1-18-27-28-41-49 Kicker 009118. Powerball jackpots start at $20 million, and other prizes pay from $1 million to $2 million w...

Courting controversy and resistance, Cargill says it will reopen meat plant Courting controversy and resistance, Cargill says it will reopen meat plant

The announcement came a day after Alberta labour leaders called for a criminal investigation and public inquiry into Cargill and another meat processing plant, JBS in Brooks , saying the JBS facility should be closed for at least two weeks.

Billionaire Warren Buffett's company reports Q1 loss of US$50 bil

Illustrating his remarks with dozens of plain black-and-white slides, the 89-year-old billionaire called dealing with the pandemic "quite an experiment" that had an "extraordinarily wide" range of possible economic outcomes. In the first quarter, man...

Buffet’s Berkshire Hathaway posts $50 billion in quarterly losses as pandemic hurts Buffet’s Berkshire Hathaway posts $50 billion in quarterly losses as pandemic hurts

During a virtual address to shareholders on Sunday , Buffett revealed that the company had sold its entire interest in the airlines, worth a minimum of US$4 billion (AU$6.3 billion), and called the company's initial investment an "understandable ...

KDOL releases updated time line for unemployment benefits KDOL releases updated time line for unemployment benefits

In total, the DOL has processed more than 1.6 million completed applications or unemployment benefits since March 9th, including for both traditional unemployment insurance and the new COVID-19 Pandemic Unemployment Assistance program. The depart...

Rapid COVID-19 test set to be used in Alberta recalled Rapid COVID-19 test set to be used in Alberta recalled

Spartan declined an interview request. "While the Spartan system, or the device, performed very well in a laboratory setting, and along the specifications the manufacturer had provided, it was in the real-life setting, in the clinical setting, wher...

European Central Bank keeps key interest rates unchanged, boosts pandemic response European Central Bank keeps key interest rates unchanged, boosts pandemic response

Weak data suggest the European Central Bank can not avoid doing more: figures showed the eurozone economy shrank by 3.8% in the first quarter, underperforming expectations for a 3.5% drop, even before the biggest impact of the lockdown was felt.

Warren Buffett sells entire stake in airlines Warren Buffett sells entire stake in airlines

BNSF Railway, North America's largest freight railroad network, saw shipping volumes of consumer products and coal plummet, while insurance giant Geico set aside money for vehicle premiums it probably won't collect. We should mention .under a new acc...

Tesla stock soars as earnings stay strong amid the coronavirus Tesla stock soars as earnings stay strong amid the coronavirus

The electric vehicle and solar panel company said it made $16 million from January through March, its third-straight profitable quarter. The company said operations at its Shanghai plant were progressing better than expected, with production rate...

Japan asks USA for stable remdesivir supply as Tokyo rushes approval Japan asks USA for stable remdesivir supply as Tokyo rushes approval

Preliminary data indicates that the drug can help patients recover from the coronavirus more quickly than no treatment, but it does not significantly reduce death. While a recent study from the USA claims that the drug reduces recovery time o...

May Day protesters in the USA call for economic help May Day protesters in the USA call for economic help

May 1, known as International Workers' Day or May Day, is a worldwide holiday to celebrate working classes. Other employees have been working from home since March. In Michigan on Thursday, hundreds of protesters swarmed the state capitol to denounce...

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