Friday January 28-th, 2022

Uber cuts 3,700 jobs amid COVID-19 slump Uber cuts 3,700 jobs amid COVID-19 slump

The lawsuit filed Tuesday in San Francisco claims that since Uber and Lyft started operating ride-hailing services in 2010 and 2012 respectively they improperly classified their drivers as independent contractors rather than employees and there...

Zoom buys secure messaging service Keybase

But concerns about the security of its platform have led companies including Elon Musk's SpaceX and Sweden's Ericsson to ban employees from using the platform. Zoom has acquired Keybase , a security and cryptography company, weeks after the teleconf...

New York Businesses Receive $17B In Second Round Of PPP Loans New York Businesses Receive $17B In Second Round Of PPP Loans

That adds up to about $17 billion. Get all the latest news on coronavirus and more delivered daily to your inbox. The report shows there's no statistical significance between the severity of the economic impact of COVID-19, measured both in ...

How major USA stock indexes fared Wednesday How major USA stock indexes fared Wednesday

For the second day in a row a late fall has pushed Wall Street lower but unlike Tuesday, this time the market ended up in the red . In the cash market on Wednesday, S&P 500 Index futures settled at 2848.42, down 20.02 or -0.76%. Another 3.2 milli...

Bank of England: UK economy could shrink by almost a third Bank of England: UK economy could shrink by almost a third

Separately, a new stress test found that United Kingdom banks and building societies are in a good position to withstand the near-total collapse in the country's economy. The Coronavirus crisis placed exceptional demands on Britain's public treasury ...

Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary

Under the California law, which went into effect on January 1 and is known as Assembly Bill 5 or AB-5, companies must prove workers are free from company control and perform work outside the usual course of business in order classify workers as i...

Another 3 million Americans filed for jobless benefits last week

Others have suffered pay cuts. A broader measure - the proportion of adults with jobs - could hit a record low. "What we're talking about here is pretty stunning", said Diane Swonk, chief economist at Grant Thornton. GE Aviation said it is cutting ...

China s April Exports Rebound But Outlook Remains Grim China s April Exports Rebound But Outlook Remains Grim

The reclusive state's exports have plunged 94.3 percent compared to $4.562 billion in 2015, two years before stronger sanctions were put in place in 2017. "In the current situation with the various factors that have hit global trade in recent weeks a...

Lockdowns Ease, Demand Hopes Rise, Crude Oil Price Spikes Lockdowns Ease, Demand Hopes Rise, Crude Oil Price Spikes

Brent prices climbed 13.9% in the previous session, part of a six-day rise. The West Texas Intermediate (WTI) for June delivery dipped 57 cents to settle at 23.99 USA dollars a barrel on the New York Mercantile Exchange. " Oil prices should even...

OKC police: Two south side McDonald's employees shot OKC police: Two south side McDonald's employees shot

The attacker reportedly shot one in their left arm and the other in their right shoulder during the "melee that ensued", Oklahoma City Police Lt. Michelle Henderson told CNN . "We are fully cooperating with law enforcement as they investigate this...

Russian Federation reports new record daily rise in coronavirus cases Russian Federation reports new record daily rise in coronavirus cases

The pandemic has killed nearly 264,000 people worldwide, with total infections over 3.75 million, while recoveries of almost 1.25 million, according to figures compiled by the US' Johns Hopkins University. Prime Minister Mikhail Mishustin , the hig...

Bank of England: UK economy could shrink by almost a third - Economy

At its scheduled May monetary policy meeting, the Bank of England (BOE) Monetary Policy Committee (MPC) chose to leave the interest rate unchanged at 0.10% while maintaining the QE program at GBP645 billion. It also kept its quantitative easing...

Nigeria's Bonny light crude up by 22.7% as global oil demand improves Nigeria's Bonny light crude up by 22.7% as global oil demand improves

Brent was up 45 cents, or 1.5 per cent, at $31.42 a barrel at 0830 GMT, having risen in the past six sessions. Brent crude price nearly doubles since hitting 21-year low on April 22. "Demand is also beginning to recover from a low base, led by a r...

Amazon pauses vinyl, CD and music merch orders due to coronavirus Amazon pauses vinyl, CD and music merch orders due to coronavirus

US retail giant Amazon says it will hire 100,000 full- and part-time workers at fulfillment centers to keep up with demand and help Americans who are isolating during the coronavirus outbreak . Amazon has been hit with a wave of delivery delays a...

Uttar Pradesh hikes tax on petrol, diesel amid Covid-19 crisis Uttar Pradesh hikes tax on petrol, diesel amid Covid-19 crisis

The Centre on Tuesday night hiked the road cess and excise duty on petrol and diesel but assured that there will be no impact on the retail prices. Notably, the government hiked the excise duty by a record Rs 10 per litre on petrol and by Rs 13 per l...

The Queen Wishes Australia Well During Phone Call With Scott Morrison The Queen Wishes Australia Well During Phone Call With Scott Morrison

Morrison said on Friday that migrant arrivals in Australia are expected to fall by 30 percent in 2019-20 then by 85 percent in 2020-21 as a result of COVID-19. The site now contains information on cleaning procedures, risk assessments, products, pr...

Iran Approves Plan to Rename and Revalue National Currency Iran Approves Plan to Rename and Revalue National Currency

The brand new regulation dictates the transition from rial to the toman - valued at 10,000 rials - inside the subsequent two years. The decision was made in order to maintain the efficiency of the national currency and facilitate and restore the ...

European Commission says economy to shrink 8pc European Commission says economy to shrink 8pc

According to the Commission, while the measures introduced by the Greek government to protect the labour market are expected to avoid large-scale lay-offs and insolvencies, some 160,000 jobs could still be lost due to the crisis and the unemployment ...

Oil rises above $31 as lockdown easing counter supply glut

Continuing the theme, French oil giant Total said Tuesday that it now expects production of between 2.95 and 3 million barrels of oil a day in 2020, a reduction of at least 5% from previous 2020 forecasts. "Considering. the depths of demand destructi...

ADP's April private jobs report shows worst losses in its history

That's up from the 149,000 private jobs cut a month earlier. The ADP National Employment Report released Wednesday was not surprising, given that more than 30 million people have filed for unemployment benefits as the coronavirus pandemic shut ...

'Substantial Doubt' For Norwegian Cruise Line 'Substantial Doubt' For Norwegian Cruise Line

No other North American or Australian cruises will be held through the end of August. Cruise ships are under orders from the CDC not to sail to or from US ports after several cruise ships reported outbreaks of the disease on board. The cruise line al...

Airbnb laying off 1900 employees due to travel decline Airbnb laying off 1900 employees due to travel decline

Chesky said Airbnb expects its revenue to drop by more than half this year. The company is privately held, so it does not release financial figures. The deal may have included a commitment to reduce costs. In his memo today, Chesky put forth a ...

Coronavirus infects 58% of workers at Tyson Foods plant Coronavirus infects 58% of workers at Tyson Foods plant

Unlike the fire the company experienced late past year at its Holcomb, Kansas beef plant, most Covid-19 losses won't be covered by insurance policies, it said. Tyson also said its own supply chain was experiencing severe disruptions, raising costs fo...

Chancellor says there will be Chancellor says there will be "no cliff-edge" to JRS

Chancellor Rishi Sunak is expected to formally outline plans on ending the furlough scheme before the middle of May, as this will be the point employers with more than 100 staff must begin a 45-day consultation period before making any redundancies.

Barclays Bank receives 200 coronavirus loan applications in one minute Barclays Bank receives 200 coronavirus loan applications in one minute

All we can hope is that the government clarifies this commitment to give security to businesses that are in dire need of this potentially life-saving, business-saving, funding. The government is guaranteeing 100% of the loan from lenders if the firm ...

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