Friday January 28-th, 2022

Wall Street falls as tech sells off again, jobless claims still high

Fed Chair Jerome Powell laid out a menu of factors - including wage growth, workforce participation and disparities in minority joblessness relative to whites - that must be satisfied before the Fed would view the economy at maximum employment, and...

RCMP: Tesla driver was asleep while auto was doing over 90 miles per hour RCMP: Tesla driver was asleep while auto was doing over 90 miles per hour

The incident happened back in July, when authorities received a complaint of a auto speeding down Highway 2 near Ponoka, a small community between Edmonton and Red Deer. Ponoka is more than 100 kilometres south of Edmonton. While each traffic stop ...

Why are stocks dropping? Hint: It involves Jerome Powell Why are stocks dropping? Hint: It involves Jerome Powell

The dot plot of interest rate projections on average sees rates staying near zero through the end of 2023, but four members see rates higher . The recovery, Powell noted, is expected to slow, requiring continued support from further government spe...

Australia’s daily COVID-19 cases lowest in 3 months Australia’s daily COVID-19 cases lowest in 3 months

Primary schools in regional Victoria are also set to start a staged return to in-class learning a week earlier than originally planned due to low case numbers, state education minister James Merlino said. However with 25,000 Australians stranded over...

Thailand and Singapore added to UK's quarantine-free 'green list' for travel Thailand and Singapore added to UK's quarantine-free 'green list' for travel

But Britons and holidaymakers arriving in Britain from Slovenia and the French Caribbean island of Guadeloupe will face 14 days in isolation from 4am on Saturday. Foreign Secretary Dominic Raab has previously said no worker following quarantine guida...

860,000 Unemployment Claims Filed Last Week 860,000 Unemployment Claims Filed Last Week

State Department of Labor officials say 10,771 laid-off or furloughed workers applied for jobless benefits during the week ending September 12. The number of new unemployment claims have come down gradually over the last few months, and they remai...

Google to allow employees to work remotely till next July Google to allow employees to work remotely till next July

Google previously stated that the work-from-home option would be extended through the end of the year-however, with COVID-19 cases continuing to surge, that decision has been considerably extended. Pichai's email noted that Google and Alphabet have...

Turkey open to Mediterranean Sea talks but 'determined': Erdogan Turkey open to Mediterranean Sea talks but 'determined': Erdogan

Their disputes escalated after France last month sent naval assets into the eastern Mediterranean to help out Greek warships shadowing Turkish ones in disputed seas. "Respect for the sovereignty of all member states should remain a rule that no one c...

Trump says no TikTok deal yet amid security concerns Trump says no TikTok deal yet amid security concerns

Initially, Microsoft was involved in talks with ByteDance that owns the TikTok platform. "While the US/China tensions continue across all aspects of the technology food chain, resolving this TikTok and ByteDance standoff and complex Rubik's Cube ...

USA stocks drop amid tech struggle USA stocks drop amid tech struggle

From the March market lows, "this has been an unbelievable recovery represented by a few good tech names", said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. The TSX's energy group fell 0.95 points, or 1.3%,...

Report finds global economic outlook not as bad as expected Report finds global economic outlook not as bad as expected

Better-than-expected second quarter economic data in most advanced economies including the USA and China, the world's two largest economies, means the global gross domestic performance underpins the revision in outlook, the OECD said in its Interim E...

Mazda CX-30 Turbo Makes Official US Debut With 250 Horsepower Mazda CX-30 Turbo Makes Official US Debut With 250 Horsepower

Capable of producing 250 hp and 320 lb-ft with 93 octane gas, the grunty four-cylinder has revived some of the old "Zoom-Zoom" that many felt the company's lineup was lacking after the demise of Mazda's 2.3-liter turbocharged engine and Ford-sourced ...

Gold slips from 2-week high as dollar rises after Fed

In the global spot market, gold (Comex) fell as much as 1.64 per cent to $1,938.20 per ounce, whereas silver plummeted 3.89 per cent to $26.41 per ounce. "What we're probably seeing building in gold here is the expectation that the Fed is going to ...

Insurers Hiscox and RSA predict £200m hit from landmark Covid-19 ruling Insurers Hiscox and RSA predict £200m hit from landmark Covid-19 ruling

In ordinary circumstances, the industry sustains more than 740 000 direct and 1.5 million indirect jobs, and contributes billions of rands to the South African economy. She said she would "absolutely" be relying on the United Kingdom ruling as she re...

Restaurant subsidy scheme prompts sharp drop in United Kingdom inflation rate - govt statistics Restaurant subsidy scheme prompts sharp drop in United Kingdom inflation rate - govt statistics

Figures released this morning (16 September) by The Office for National Statistics ( ONS ) show consumer prices rose by just 0.2% year-on-year in August as the discount meal scheme drove down the cost of living. The sharpest fall in years was drive...

Happiest Minds more than doubles in market debut, lists at 111% premium Happiest Minds more than doubles in market debut, lists at 111% premium

The investors bids were for 351 crore shares against the issue size of 2.32 crore. On the National Stock Exchange (NSE ), shares hit a high of Rs 389.90, after opening at Rs 350. The IT company earned 97 percent of its revenue from digital offerin...

Sensex falls 323 points as financial stocks slide; Nifty ends at 11,516 Sensex falls 323 points as financial stocks slide; Nifty ends at 11,516

Benchmark NSE Nifty50 index was down 79.10 points at 11525.45, while the BSE Sensex was down 276.61 points at 39026.24. Defensive sectors such as pharma and IT were among the few sectors to gain, with the Nifty Pharma Index rising 0.19% and the...

S&P 500 ends higher, investors eye Fed S&P 500 ends higher, investors eye Fed

The S&P 500 rose 0.5% after being up more than 1% earlier. Tesla shares soared 12.58 per cent, contributing to the market. "The technology stocks in many ways have become the new defensive stocks.in a world of extremely low interest rates these s...

Swedish fintech Klarna surpasses US$10bn in valuation Swedish fintech Klarna surpasses US$10bn in valuation

The investment was raised from Silver Lake, Singapore's sovereign wealth fund GIC, BlackRock and HMI Capital have helped Klarna beat British rivals such as Revolut and Checkout.com whose valuations remain at $5.5bn. The company's valuation is n...

Ferrari Portofino M revealed: Entry-level convertible gains power boost Ferrari Portofino M revealed: Entry-level convertible gains power boost

As a matter of fact, the power output from the Portofino's 3.9-litre, twin-turbocharged V8 petrol engine has been boosted from 600hp to 620hp. Today, Ferrari unveiled a slightly better Portofino it's calling the Portofino M. The hardtop roof is...

Oil Prices Appreciate As Opec Predicts Decline in 2020 Demand Oil Prices Appreciate As Opec Predicts Decline in 2020 Demand

In its monthly report, the organisation said it expected world oil demand to fall by 9.46 million barrels per day (bpd) this year, more than the 9.06 million bpd decline expected a month ago. OPEC and its allies are scheduled to meet later this week...

United Kingdom loses 700000 jobs to pandemic as pressure mounts for aid United Kingdom loses 700000 jobs to pandemic as pressure mounts for aid

Reuters quoted an economist Samuel Tombs, with Pantheon Macroeconomics, who said job losses were likely to accelerate in September and October when employers will have to pay more towards the cost of the furlough scheme because "The number of peopl...

Singapore Airlines drops Canberra route in global downsizing Singapore Airlines drops Canberra route in global downsizing

Singapore Airlines plans to offer round-trip flights that both depart and arrive at the same destination, according to a new report. A Singapore Airlines flight at Canberra Airport. One of the world's most popular airlines is looking to launch a ...

Nigeria's inflation hits 13.22%, posts highest monthly increase Nigeria's inflation hits 13.22%, posts highest monthly increase

The Reserve Bank of India intends to keep inflation around 4%, a rate that was breached in December when it accelerated to 7.35%. This hardening of consumer inflation above 6 per cent makes a further rate cut hard in RBI's monetary policy committee...

Snowflake Prices IPO Above Marketed Range at $120 a Share

Data storage software company Snowflake has raised its estimated initial public offering price. That's about 30% higher than the $75-$85 the company originally listed on its amended Form S-1, filed with the U.S. Snowflake's revenue jumped 173.9% to U...

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