Markets

Markets Facebook Announces Permanent Work from Home Option for Employees
Author: 0 Facebook Announces Permanent Work from Home Option for Employees

Many Facebook employees are working from home during the Chinese virus pandemic and questioning the need to live in the extremely costly San Francisco Bay area. Another 20% were "somewhat" interested and the largest group wanted flexibility, with some remote and some in-office work. This includes seniority, high performance, and naturally being part of a team that supports remote work.

Markets City of Toronto officials furious at massive crowds in Trinity Bellwoods Park
Author: 0 City of Toronto officials furious at massive crowds in Trinity Bellwoods Park

The city government also issued a statement decrying the absence of social distancing evident in images of the gathering, calling it "unacceptable" and warning it risked setting back the city's efforts to stop the spread of Covid-19. "I thought it was a rock concert at the beginning when I went out there". "If you have symptoms, you're anxious, you've been in large groups and anxious about having COVID or been in contact with someone who may have had COVID, go get tested", Ford said.

Markets Oxford COVID-19 Vaccine to Begin Next Phases of Human Trial
Author: 0 Oxford COVID-19 Vaccine to Begin Next Phases of Human Trial

The creation of a COVID-19 vaccine is seen as a crucial step to controlling the pandemic and allowing for the safe resumption of businesses, classes, organized sport, performing arts and social activity. There is no company testing vaccine in India yet and they are in the pre-clinical stage of preparation", he said. "If a comparison has to be made we are well behind global efforts", he said.

Markets Wall Street opens modestly lower, energy shares underperform
Author: 0 Wall Street opens modestly lower, energy shares underperform

Investors have also greeted gradual steps by states to reopen their economies. President Donald Trump's warning on Thursday that the USA would react strongly to China's plan for a national security law in Hong Kong has raised concerns over Washington and Beijing's possibly reneging on their Phase 1 trade deal.

Markets RBI’s rate cut, extension of loan moratorium are positive steps, say developers
Author: 0 RBI’s rate cut, extension of loan moratorium are positive steps, say developers

A reduction of repo rate is the signal banks that they can borrow funds at cheaper rates from the RBI and lend deploy those. Revenues have been impacted severely due to slowdown in economic activity amid COVID-19 outbreak, Das said. Speaking on the condition of the economy, the governor said that there has been a collapse in demand in both urban and rural demand since March 2020.

Markets Article image Facebook to embrace remote work in post-pandemic shift
Author: 0 Article image Facebook to embrace remote work in post-pandemic shift

In an interview with the BBC , Facebook CEO answered questions about the company's anti-misinformation campaign, the Covid-19 pandemic, upcoming elections, and his near-total control over the world's largest online social network. "Because this is fundamentally about changing our culture and the way that we all are going to work long-term". A little more than 50% wanted to get back to the office as soon as possible.

Markets Canadian researchers help Tesla build new 'million-mile' battery
Author: 0 Canadian researchers help Tesla build new 'million-mile' battery

Tesla CEO Elon Musk has been touting forthcoming battery technology improvements, going so far as to dub a forthcoming company talk "battery day" in prior public comments. Reuters also says the new batteries will rely on low-cobalt components and chemical additives that reduce stress over time. The sources said CATL also plans to supply Tesla in China next year with an improved long-life nickel-manganese-cobalt (NMC) battery whose cathode is 50% nickel and only 20% cobalt .

Markets Stocks Recover, But Finish the Week With Losses
Author: 0 Stocks Recover, But Finish the Week With Losses

Meanwhile, the possibility of renewed trade tensions between the US and China came to the forefront, igniting concerns about relations between two of the biggest world economies at a time when the U.S.is already facing a massive downturn. In one bright spot, Americans' view of the economy improved in early May even as the novel coronavirus continued to spread. Friday's turnaround also followed better-than-expected data on USA consumer sentiment.

Markets Sensex rallies 637 pts on govt stimulus boost; banking stocks soar
Author: 0 Sensex rallies 637 pts on govt stimulus boost; banking stocks soar

The 30-share S&P BSE frontline index opened 39.65 points, or 0.43 percent, higher at 31,296.28, while the broader 50-share NSE index started at 9,182.40, up 173.39 points, or 0.56 percent. On the currency front, Rupee closed lower at 75.56 per dollar as against the previous close of 75.47 per U.S. dollar. Meanwhile, bourses in Shanghai and Seoul ended with gains, while Hong Kong and Tokyo closed in the red.

Markets 78 per cent of Alberta COVID-19 cases recovered
Author: 0 78 per cent of Alberta COVID-19 cases recovered

Hinshaw said, within seven days of opening, businesses must outline the steps they're taking to prevent the spread of COVID-19. Alberta's cabinet ministers will address the issue in detail in tonight's cabinet meeting. Overall, 45 new cases were confirmed on Tuesday, bringing the total to 1,361 active cases in the province and 6,345 since the onset of the pandemic. There are 73 cases in hospital including 12 in intensive care units.

Markets Saudi Arabia increases Value-Added Tax from 5% to 15%
Author: 0 Saudi Arabia increases Value-Added Tax from 5% to 15%

The kingdom's finance minister Mohammed al-Jadaan said in the statement that the measures announced on Monday "are painful but necessary to maintain financial end economic stability over medium to long term". Under the most recent OPEC+ deal, Saudi Arabia was targeting production of 8.492 million barrels a day. According to al-Jadaan, Saudi Arabia's economy, in which oil income contributes up to 70% of government expenditure, has suffered three economic shocks recently, namely the drop in ...

Markets US COVID-19 response officials in self-quarantine
Author: 0 US COVID-19 response officials in self-quarantine

Bloomberg reported that Pence didn't attend a meeting Saturday with President Donald Trump after his press secretary, Katie Miller , tested positive for coronavirus . "At least 34 Secret Service employees have also tested positive, although it is unknown if any work at the White House". "All of the recommended guidelines we have for businesses that have essential workers were now putting in place here in the White House, so as America reopens safely the White House is continuing to ...

Markets Apple to begin reopening US stores this month
Author: 0 Apple to begin reopening US stores this month

The closures haven't just meant lost sales opportunities for Apple. The page appears to be a result of Apple's ongoing adjustments in the way it does business due to the COVID-19 pandemic, it is now not known if the page will continue to be presented in this way once Apple's US retail stores begin to reopen.

Markets Trump tours new face mask factory in Arizona but doesn’t wear one
Author: 0 Trump tours new face mask factory in Arizona but doesn’t wear one

Birx said the team would "keep a close eye on the data". The White House issued a statement Monday that "this is not a White House document, nor has it been presented to the Coronavirus Task Force or gone through interagency vetting". There is growing frustration among the president's core supporters, however, with government shelter-in-place orders. Since the Centers for Disease Control and Prevention recommended on April 3 that Americans wear face masks in public, Trump has repeatedly ...

Markets Centre raises excise duty on petrol, diesel by historic levels
Author: 0 Centre raises excise duty on petrol, diesel by historic levels

According to a notification issued by the Central Board of Indirect Taxes and Customs, special additional excise duty on petrol has been hiked by Rs 2 per litre and road cess has been hiked by Rs 8 a litre. This would help in generating the resources to meet expense of coronavirus fight as well as meet other spending needs such as on infrastructure. Any increase in taxes on these items would boost a state's coffers at a time when over a month of lockdown has brought business activity to a ...

Markets Buffett's firm plans online event after reporting US$50B loss
Author: 0 Buffett's firm plans online event after reporting US$50B loss

Edward Jones analyst Jim Shanahan said it was striking that Buffett didn't find any bargains to invest in at the end of the first quarter. Berkshire has been among the biggest shareholders in the four largest U.S. "It's going to be a odd annual meeting", said Andy Kilpatrick, a retired stockbroker who wrote a Buffett biography and has attended every annual meeting since 1985.

Markets More On Tesla's Q1 2020 Earnings Report And Investors Call
Author: 0 More On Tesla's Q1 2020 Earnings Report And Investors Call

Wall Street's enthusiastic reaction to the first-quarter results puts Musk on the cusp of reaping a huge payday as part of a deal he struck with Tesla's board two years ago. We find the company's perspective as an aftermarket supplier of Tesla accessories interesting and are willing to share its content free of charge. The billionaire entrepreneur, speaking on an earnings update for the electric carmaker, lashed out at the orders which forced the shutdown of production in California and ...