Business

Business Canadian government projects deficit of $342 billion for 2020-21
Author: 0 Canadian government projects deficit of $342 billion for 2020-21

The projection is part of Ottawa's economic fiscal snapshot, which is the first update since the start of the pandemic. Last autumn, Finance Minister Bill Morneau projected the deficit for the upcoming year would be C$28.1bn - up from a deficit of C$14bn two years ago, before Mr Trudeau's Liberal Party won a second mandate.

Business Reliance Jio Platforms raise ₹11,367 crore from The Public Investment Fund
Author: 0 Reliance Jio Platforms raise ₹11,367 crore from The Public Investment Fund

Meanwhile, the company also raised another INR 53,124 Cr through a rights issue in the last 58 days. He had also mentioned that its subsidiaries, Reliance Jio and Reliance Retail, would also be listed in the next five years. In the weeks since, the telecom operator has raised an additional $9.5 billion from a roster of nine high-profile investors including Silver Lake , KKR , and General Atlantic .

Business What you should know about the Supreme Court’s landmark ruling
Author: 0 What you should know about the Supreme Court’s landmark ruling

The answer is clear. No matter how much the dissenters insist that doing so would be "different" from discrimination based on sex , Gorsuch arrives at the same conclusion: "At bottom, the employers' argument unavoidably comes down to a suggestion that sex must be the sole or primary cause of an adverse employment action for Title VII liability to follow".

Business Microsoft joins rivals, bars police use of face recognition tech
Author: 0 Microsoft joins rivals, bars police use of face recognition tech

In point of fact, the Microsoft announcement was brought into light a day after its arch-rival Amazon .com Inc. had stalled police use of its "Rekognition" software for a year, while the IBM ( International Business Machines Corp .) had also told that the American tech tycoon would no longer offer its software and technologies that could be used to support racial injustice.

Business Musk - time for Tesla Semi to get on the road
Author: 0 Musk - time for Tesla Semi to get on the road

Shares were $1,009.84 at 10:50 a.m. ET. The American carmaker's current stock value is rated at $1,025.05, and its market valuation jumped to over $180 billion. When Musk unveiled the prototype of the futuristic, battery-powered Semi in 2017, he said the Class 8 truck would go into production by 2019. During the initial debut, Musk promised the truck would drive like its other passenger vehicles, the Model X, Model S and Model 3 .

Author: 0 Unemployment claims are being paid, labor office says

At the end of last week, 1.2 million New Jersey workers had filed for unemployment benefits. An additional 1.55 million Americans are expected to have filed for unemployment benefits in the week ending June 6, according to economists. Still, some 43 million American workers have filed for unemployment insurance since mid-March. However, the figure is projected to be down slightly on the 1.88 million claims filed in the previous week.

Business China consumer inflation slows in May
Author: 0 China consumer inflation slows in May

The orderly restoration of work and production amid a generally stable COVID-19 situation helped moderate consumer inflation, according to Dong Lijuan, a senior statistician with the bureau. Citing the easing trend in CPI reading, Wen said the country is expected to reach the consumer inflation target of around 3.5 percent for the year 2020.

Business Oil holds losses as Saudis call time on additional output cuts
Author: 0 Oil holds losses as Saudis call time on additional output cuts

Brent crude was up 51 cents, or 1.2 per cent, at $42.81 per barrel, by 0628 GMT, while U.S. West Texas Intermediate ( WTI ) crude rose 32 cents, or 0.8 per cent, to $39.87 a barrel. "The potential return of Libyan output could also cause considerable challenges for the OPEC leadership, " said Helima Croft, Head of Global Commodity Strategy at RBC Capital Markets.

Business Trump losing ground to Biden amid chaotic week
Author: 0 Trump losing ground to Biden amid chaotic week

The slide comes as Trump's former Cabinet officials , retired generals , religious leaders and even members of his own party publicly criticized his photo-op stunt that resulted in peaceful protesters being tear-gassed near St. His signature rallies had been frozen for months and his cash advantage over Mr Biden, while vast, was not growing as quickly as hoped since the pandemic put a halt to high-dollar fundraisers.

Business U.S. labour market unexpectedly improves in May
Author: 0 U.S. labour market unexpectedly improves in May

While much of this increase was because of states being late in getting new applicants processed for unemployment insurance benefits, it is hard to see how 17.4 million more people getting benefits can fit with two million more people getting jobs.

Business Wall Street jumps after surprise job additions in May
Author: 0 Wall Street jumps after surprise job additions in May

Similarly, the S&P 500 was down by less than 1% after having been down some 30% earlier in the year. At 10:03 a.m. ET, the Dow Jones Industrial Average was up 684.41 points, or 2.60 per cent, at 26,966.23, the S&P 500 was up 66.68 points, or 2.14 per cent, at 3,179.03 and the Nasdaq Composite was up 157.01 points, or 1.63 per cent, at 9,772.83.

Business Wall Street's rally zooms higher after surprise gain in jobs
Author: 0 Wall Street's rally zooms higher after surprise gain in jobs

Besides, while the tech-heavy Nasdaq Composite joined S&P 500 in to the negative territory, the trade-sensitive Dow had also ended up the day with a whiplash. The broader All Ordinaries index (^AORD ) had also posted losses of 0.37 per cent at midday. The yield on the 10-year Treasury rose to 0.71% from 0.68% late Tuesday.

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.

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