Business

Business Facebook employees to face pay cut if they move to cheaper areas
Author: 0 Facebook employees to face pay cut if they move to cheaper areas

The potential salary adjustments for employees comes after the Facebook CEO predicted that 50% of the company could be working remotely in the next five to 10 years. The Canadian e-commerce business said that its offices will be closed until 2021 and most employees will be allowed to work remotely on a permanent basis after that.

Business RBI cuts repo rate, extends loan moratorium, projects negative GDP growth
Author: 0 RBI cuts repo rate, extends loan moratorium, projects negative GDP growth

In his address to the media, the RBI governor said that an off-cycle meeting of the monetary policy committee (MPC) was done for the past three days. MPC is of the view that headline inflation in first half of 2020 will be stay intact but by Q3 and Q4 it may fall below the target of 4 percent, said the RBI governor.

Business Tesla could launch a million-mile battery this year
Author: 0 Tesla could launch a million-mile battery this year

That will not only reduce the amount of hazardous waste associated with electric vehicles but also help reduce the effective cost of new batteries. Most of what we know about the probable technology comes from the expertise of the new hires and studies released by Tesla's partners.

Business China suspends more USA tariffs
Author: 0 China suspends more USA tariffs

China is committed to its Phase 1 trade deal with the United States and is working towards meeting its promise to boost US purchases, even though the pace of buying has been restrained by the coronavirus outbreak, three Chinese sources said.

Business Global crude oil set for a second weekly gain
Author: 0 Global crude oil set for a second weekly gain

West Texas Intermediate ( WTI ) crude added 27 cents, or 1.1 per cent, to $24.83. Brent crude settled up $1.51, or 5.1%, at $30.97 a barrel. However, crude is still being pumped into storage, raising the prospect that any gains prompted by stronger demand will be capped.

Business Apple Plans To Reopen Some Of Its U.S. Stores Next Week
Author: 0 Apple Plans To Reopen Some Of Its U.S. Stores Next Week

Apple will begin reopening its retail stores in the United States from next week. Our new social distance protocol allows for a limited number of visitors in the store at one time so there may be a delay for walk-in customers. The Apple logo at the entrance to the Apple store on 5th Avenue in Manhattan, New York, on October 16, 2019. A Business Insider report on store re-openings in Australia notes that customers were checked for temperature before they entered stores and that plenty of ...

Author: 0 US, UK and Australia working together on COVID-19 vaccine

Scientists around the world are now racing to develop such a vaccine but most experts expect it will only be ready for mass distribution sometime in 2021. Others - including two put together by Columbia University in NY - say the 100,000 mark will be long past by June 1. He said the economic ties between the USA and Ireland will be "more important than ever as we seek to recover from the COVID-19 crisis".

Business Billionaire Warren Buffett sells all his U.S. airline shares
Author: 0 Billionaire Warren Buffett sells all his U.S. airline shares

Berkshire Hathaway Inc sold its entire stakes in the four largest US airlines in April, Chairman Warren Buffett said Saturday at the company's annual meeting, saying "the world has changed" for the aviation industry. "It is basically that we shut off air travel in this country". " Never bet against America ", he said at the start of the meeting, however warning that the possibilities "are still extraordinarily wide" given the coronavirus crisis.

Business Warren Buffett's company reports US$50 billion Q1 loss
Author: 0 Warren Buffett's company reports US$50 billion Q1 loss

Berkshire reported a first-quarter loss of $49.7 billion, or $30,653 per Class A share equivalent, from $21.66 billion, or $13,209 a share, in the year-earlier period. On Saturday afternoon, Buffett plans to lead an abbreviated online version of Berkshire's annual meeting without any of the roughly 40,000 shareholders who typically attend.

Business Tyson warns of coronavirus-related USA meat shortages as livestock plants shutdown
Author: 0 Tyson warns of coronavirus-related USA meat shortages as livestock plants shutdown

Trump acted one day after Iowa's two USA senators and its governor urged the administration to invoke the DPA to keep meatpackers open and reopen closed facilities "as soon as it is possible to do so safely". U.S. Rep. Cindy Axne said any order from Trump or a company to stay open needs to come with "ironclad answers" on how employees will be protected.

Business Small businesses get second chance at Federal loans during pandemic
Author: 0 Small businesses get second chance at Federal loans during pandemic

On 24 April President Donald Trump signed a new coronavirus financial relief package worth $484 billion, in a measure that passed Congress nearly unanimously on Thursday. Since then, it's emerged that dozens of publicly traded companies, some with valuations over $100 million, received funding, including $30 million from Ruth's Chris Steak House , Potbelly Sandwich Shop and the Wilhelmina International talent agency that represents celebrities from Nicki Minaj to Nick Jonas.

Business Congress, get this deal done
Author: 0 Congress, get this deal done

The PPP launched on April 3 with $349 billion in funding created to help employees of small businesses harmed by the coronavirus outbreak. Congress is poised to approve another $320 billion in funds for the program after the original $349 billion tranche was fully tapped in less than two weeks.

Business Fogo de Chão To Receive $20 Million In Small Business Loan
Author: 0 Fogo de Chão To Receive $20 Million In Small Business Loan

Martha McSally, R-Ariz, recently tweeted. The Brazilian steakhouse chain Fogo de Chão is one of many large companies approved for small business loans through the Paycheck Protection Program earlier this month. Small-business owners in all 50 states are eligible for $10,000 advances on the loans as part of the COVID-19 relief package enacted last month. "Many of these companies are stuck in limbo waiting for this additional funding".

Business Bloodbath in U.S. oil market
Author: 0 Bloodbath in U.S. oil market

Rising fears over fuel storage facilities being overwhelmed by the excessive supply are compounding to oil's woes and offered investors another reason to attack the already battered commodity, Otunuga said . Louis. Brent crude futures for June slumped 29% to $18.20 a barrel. Contracts WTI with delivery in June sold on the exchange at 21.8 Dollars per barrel.

Business Gilead gains on report claiming COVID-19 drug effectiveness
Author: 0 Gilead gains on report claiming COVID-19 drug effectiveness

COVID-19 patients, who are being administered an experimental drug called remdesivir, have been recovering quickly, with most going home in days or a few weeks. "When we start [the] drug, we see fever curves falling", Mullane reportedly said. Gilead is set to release more fulsome clinical data later this month.

Business Stimulus Checks for Up to $4,700 Begin Arriving in Bank Accounts
Author: 0 Stimulus Checks for Up to $4,700 Begin Arriving in Bank Accounts

Some people didn't know if they'd earn a stimulus check as a non-filer, but the IRS confirms they're eligible through the "Non-Filers Enter Payment Info Here' portal that debuted on Friday". But if you opted for a check from the IRS, you will get your bailout payment by check. By this strategy, the IRS is set to mail out 5 million checks a week, The Washington Post reports.

Business OPEC+ formulates a two-year oil cut deal to be implemented gradually
Author: 0 OPEC+ formulates a two-year oil cut deal to be implemented gradually

Kremlin spokesman Dmitry Peskov said action involving others was "unavoidable", even though he acknowledged US law barred American producers from joining any price cartel. Kremlin spokesman Dmitry Peskov said Thursday that Russian Federation was advocating for a global move that not only includes Opec and Russian Federation, which had coordinated production cuts for four years until they fell out spectacularly this year, but also the United States.

Business Saudi Arabia-Russia oil talks delayed
Author: 0 Saudi Arabia-Russia oil talks delayed

The members of OPEC and their allied oil producers are scheduled to meet Thursday to discuss output cuts. Production will average 11.76 million barrels a day in 2020, down from an expected 12.99 million, the Energy Information Administration said on Tuesday.

Business Amazon's 'Prime Day' may be delayed until August
Author: 0 Amazon's 'Prime Day' may be delayed until August

Sales from the 2019 Prime Day event held in mid-July were higher than sales during 2018's Black Friday and Cyber Monday combined. A postponement would also negatively impact Amazon third-party sellers, who participate in Prime Day sales.

Business Futures rise after selloff, weekly jobless number awaited
Author: 0 Futures rise after selloff, weekly jobless number awaited

European markets were down after losses in most of Asia. Now, markets are waiting to see when the number of new coronavirus infections peaks. FILE PHOTO: A dealer wears a face masks on the ground of the New York Inventory Alternate (NYSE) following merchants testing constructive for Coronavirus illness (COVID-19), in New York, U.S., March 19, 2020.

Business Oil’s apocalyptic April could reverberate for years to come
Author: 0 Oil’s apocalyptic April could reverberate for years to come

West Texas Intermediate crude (WTI) at Midland, the United States' flagship crude oil grade priced in the heart of the Permian Basin, fell to about $10 a barrel, its lowest since late 1998, as demand plummeted and tanks filled. Saudi Arabia is now declaring to raise production to a record 12.3 million barrels per day. This would in turn cause an oil shortage, pushing prices above the Wall Street bank's $55 a barrel target for 2021, it said.

Business The Sunday Edition: President Donald Trump Tweetstorm
Author: 0 The Sunday Edition: President Donald Trump Tweetstorm

President Trump may be dealing with the novel coronavirus pandemic, but he apparently still has time to boast about one of his favorite topics - television ratings. "I like this stuff I really get it. People are surprised that I understand it", then it cuts to a clip of the POTUS saying "No, I don't take responsibility at all".

Business Trump encourages cruise lines that want stimulus money to register in US
Author: 0 Trump encourages cruise lines that want stimulus money to register in US

With respect to the package's $500 billion fund allocated for major employers, the bill states that to be eligible for financial aid, companies must be certified as "created or organized in the United States or under the laws of the United States" and have "significant operations in" and a majority of employees based in the U.S.

Business This calculator tells you how big your coronavirus check could be
Author: 0 This calculator tells you how big your coronavirus check could be

The size of the rebate check for eligible individuals filing individually will be $1,200 per person or $2,400 for those filing a joint return plus an amount equal to $500 per child. Those receiving nontaxable income or Social Security get payments, too. What tax year will my check amount be based on? I know for a fact that some state income tax systems do not use E-Verify in this way, and have never been able to get a straight answer from IRS on his question.

Business France coronavirus death toll jumps 240 to 1100
Author: 0 France coronavirus death toll jumps 240 to 1100

The French government, however, has no plans to implement a curfew to enforce the country's strict lockdown measures aimed at fighting the coronavirus outbreak. He also said the chloroquine malaria drug would not be marketed for mass use against coronavirus until further testing was done. "It (the lockdown) will last as long as it needs to", he added.

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