Saturday January 29-th, 2022

Maryland announces $500M coronavirus unemployment fraud bust Maryland announces $500M coronavirus unemployment fraud bust

The scheme involved identity theft from previous security breaches and did suggest that any of the personal information submitted in the legitimate claims had been compromised in any way. "To give you a sense of how that spike corresponds to our work...

Apple Sending Coronavirus Test Kits to Employees at Home Apple Sending Coronavirus Test Kits to Employees at Home

Apple, amid the coronavirus pandemic, has already closed, reopened, and re-closed numerous retail stores . In April and May, Apple was reported to be weighing a swifter return to its vacated offices than rival firms like Facebook and Google, b...

Amazon extends work from home deadline

Earlier in May, Amazon had announced that the work from home policy would be effective until October 2. Back in early March, Amazon and Microsoft introduced weekslong work-from-home policies while many in Seattle were still jockeying for elbow room...

Goldman Sachs rides investment banking, trading to big earnings beat Goldman Sachs rides investment banking, trading to big earnings beat

Revenue of $13.3B topped Street estimates by almost $4B, and was the 2nd-highest quarterly top-line result ever for the bank. However that figure is significantly smaller than the amounts JPMorgan Chase, Citigroup and Wells Fargo had to set aside, mo...

Air India takes tough HR calls ahead of sale Air India takes tough HR calls ahead of sale

The Scheme gives legitimate authority to the airline's chairman and managing director to pass an order whereby an employee could be sent on leave for six months or for a period of two years extendable up to five years, depending upon factors like sui...

Apple no longer needs to pay €13 billion in taxes to Ireland Apple no longer needs to pay €13 billion in taxes to Ireland

The court said the EU's competition authority "did not succeed in showing to the requisite legal standard that there was an advantage". The General Court found in favor of Ireland and Apple in Wednesday's verdict, arguing that the Commission ha...

Pressured by Profit-Taking after OPEC+ Votes to Taper Production Cuts Pressured by Profit-Taking after OPEC+ Votes to Taper Production Cuts

The move is risky because the rise in coronavirus infections in the United States and around the world could lead to a second round of demand destruction if the outbreak cannot be contained. OPEC+, led by OPEC's top producer Saudi Arabia and by Russi...

Jobless Claims Drop 10,000 to 1.3M in Smallest Decline Since March Jobless Claims Drop 10,000 to 1.3M in Smallest Decline Since March

The labor department said a seasonal uptick in unemployment claims filed in early July because of temporary mill and factory shutdowns could help explain last week's increase in initial claims, but that the department is analyzing the increase as it ...

India's June retail inflation picks up after easing of COVID-19 lockdown India's June retail inflation picks up after easing of COVID-19 lockdown

Oil prices slumped over the June quarter as the Covid-19 pandemic drove a sharp fall in the demand at a time when Saudi Arabia and Russian Federation were involved in a price war. "There was little evidence that higher freight costs had an impact o...

AM Report: US Sharemarkets Lifted On Wednesday AM Report: US Sharemarkets Lifted On Wednesday

The S&P 500 climbed 29.04 points, or 0.91 per cent, to 3,226.56. Volume on USA exchanges was 11.6 billion shares, compared with the 11.9 billion average for the full session over the last 20 trading days. The company's results were driven by a 93% ...

Federal government provinces and territories with $19B 'safely restart' economy Federal government provinces and territories with $19B 'safely restart' economy

The federal government will provide $19 billion to the provinces and territories as the country moves into the "recovery phase" of the pandemic. Those things include contact tracing, providing protective equipment to workers, helping struggling mun...

Number of laid-off workers seeking unemployment aid stuck at 1.3 million

All in all, the government has processed nearly 57 million new claims for jobless benefits since the middle of March. Roughly 38,150 unemployment applications were filed during the week ending July 11, bringing the total to almost 1.4 million claim...

Apple wins $15 billion court battle with European Union over Irish tax Apple wins $15 billion court battle with European Union over Irish tax

The European Commission said in 2016 that Ireland's tax benefits to Apple were illegal and that they give the company an advantage over other businesses, forcing Apple to cough up the money to Ireland. Apple argued that the profits targeted b...

American Airlines to warn 25,000 workers of potential furloughs American Airlines to warn 25,000 workers of potential furloughs

American's announcement is similar to one from United Airlines last week that warned of as many as 36,000 layoffs. According to America Airlines, the mostly unionized jobs will include pilots, flight attendants, mechanics and airport workers, who m...

China Summons US Ambassador Over Hong Kong Sanctions China Summons US Ambassador Over Hong Kong Sanctions

In an email to staff, Times executives said the new law "has created a lot of uncertainty about what the new rules will mean to our operation and our journalism". But Beijing's new security law has sent a chill through the city because its broa...

China's Q2 GDP growth beats forecasts and recovers to 3.2% China's Q2 GDP growth beats forecasts and recovers to 3.2%

China's economy grew 3.2% in the second quarter from a year earlier, a stat that normally wouldn't generate a ton of attention. China's value-added industrial output, an important economic indicator, went up 4.4 percent year on year in Q2 as factor...

First monthly trade surplus after 18 years First monthly trade surplus after 18 years

India's goods exports declined 12.41 per cent to $21.91 billion in June from $25.01 billion in the same period previous year due to a drop in shipments of major commodities like engineering goods and gems and jewellery. "The underlying dynamics of ...

Australia's unemployment rate rises to 7.4 per cent Australia's unemployment rate rises to 7.4 per cent

The benchmark index S&P/ASX200 was down by 0.69%, and settled at 6010.90 points, on 16 July after recording a high of 6078 points during the trading session. The Reserve Bank of Australia has gone all-in by cutting rates to a record low of 0.25%, flo...

Another 15,000 Scots seeking work over lockdown Another 15,000 Scots seeking work over lockdown

Analysis by the Office for National Statistics (ONS) shows that the number of hours worked in the United Kingdom plunged to record lows from March to June as the country grappled with controlling the spread of COVID-19, with lockdown forcing busine...

Fiat and Peugeot rebrand merged company as 'Stellantis'

The name Chrysler Group LLC emerged from the company's 2009 government-backed bankruptcy, which then gave way to Fiat Chrysler Automobiles in 2014. FCA and PSA said the search for a name kicked off shortly after the merger was announced a year ag...

China's Q2 GDP grows 3.2% y/y, beats expectations China's Q2 GDP grows 3.2% y/y, beats expectations

The coronavirus, which first emerged in the city of Wuhan late a year ago, has since shut businesses and destroyed hundreds and millions of jobs globally, likely tipping the world economy into recession. Retail sales were down 1.8% on-year - the fift...

SMIC shares surge 245% on the opening day of trade in Shanghai

SMIC was previously listed on the New York Stock Exchange, but trading in its shares was low, and it delisted a year ago amid the escalating U.S. SMIC sold its shares at 27.46 yuan apiece, which would allow it to raise as much as 53.2 billion yuan ...

UK COVID Vaccine Reportedly Working - Here's What's Next UK COVID Vaccine Reportedly Working - Here's What's Next

Over half of the volunteers did suffer from headaches, fatigue, chills, or pain where they were injected. The company plans to create 500 million doses of the vaccine by next year, the Daily News reported . Don't get ahead of yourself: just becaus...

Singapore economy shrinks over 40% in Q2, confirming recession Singapore economy shrinks over 40% in Q2, confirming recession

The GDP slump marked the second consecutive quarter of contractions for the global finance hub - having declined a revised 0.3% year-on-year in the first quarter and 3.3% quarter-on-quarter - meeting the definition for a technical recession.

Merged Fiat Chrysler-PSA company to be called Stellantis

Fiat Chrysler and PSA Group plan to name their new merged company " Stellantis ". After all, it stands for " Fiat Chrysler Automobiles United States of America Limited Liability Company". The names and the logos of the group's constituent brands ...

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