Money

Facebook is offering permanent Work from Home opportunity for its employees

Facebook is offering permanent Work from Home opportunity for its employees The company is ramping up its efforts for remote hiring and will also allow experienced employees in good standing to work from home , CEO Mark Zuckerberg said in a staff meeting Thursday that was livestreamed on his public Facebook page. [Full Article...]

Banks, financial stocks under pressure as RBI extends moratorium on loan repayment

Banks, financial stocks under pressure as RBI extends moratorium on loan repayment The central bank moved up its monetary policy committee meeting, which was scheduled for early June, to make the rate cut. The bank had cut the repo rate by 75 basis points in March as fears grew over the spread of the virus in the country of 1.3 billion people. [Full Article...]

Tesla to introduce 'million-mile' battery later this year or early next

Tesla to introduce 'million-mile' battery later this year or early next Electric auto maker Tesla Inc plans to introduce a new low-priced, long-life battery in its Model 3 sedan in China later this year or early next that it expects will bring the cost of electric vehicles in line with gasoline models, and allow EV batteries to have second and third lives in the electric power grid . [Full Article...]

China Steps Up U.S. Soybean Buying With Million-Ton Purchase

China Steps Up U.S. Soybean Buying With Million-Ton Purchase Under the deal, the Trump administration agreed to postpone any further tariff increases, while China promised a $200-billion increase over two years in its purchases of U.S. The statement said the remaining United States products subject to China's second round of additional tariffs will not be excluded for the time being. [Full Article...]

Apple Stores to reopen in four USA states next week

Apple Stores to reopen in four USA states next week Apple stores are beginning to reopen, but they will have new precautions that will limit how many people can be in a store. Apple will start reopening some of its U.S. It touts Apple's new no-contact delivery service, financing options, order tracking, and more, with links to shop all Apple's product categories, including iPhone, iPad, Mac and Apple Watch. [Full Article...]

Crude oil prices rise above $31 as lockdown easings counter supply glut

Crude oil prices rise above $31 as lockdown easings counter supply glut USA jobless claims, meanwhile, continued to rise, although at a slower pace with 3.2 million more people seeking unemployment benefits for the week ended May 2. Saudi Arabia increased its official selling prices for June after cutting May exports to nearly the lowest in a decade following a deal by global producers to reduce output to prop up prices. [Full Article...]

Trump pushes economy reopening, says virus could kill 100K

In an assessment that clashes with those of some public health experts, President Trump said he believed that by the end of the year there would be a vaccine against Covid-19. He said he did not believe he posed a risk to others. Trump smiled in response, saying, "I'm not sure, but I think I like that question". He said the economic ties between the United States and Ireland will be "m... [Full Article...]

Warren Buffett's Berkshire Hathaway Posts Nearly $50 Billion Loss Amid Coronavirus Pandemic

Warren Buffett's Berkshire Hathaway Posts Nearly $50 Billion Loss Amid Coronavirus Pandemic At a virtual shareholder meeting also on Saturday, Buffett announced that his conglomerate has sold all its airline stocks, sending an alarming signal to industry devastated by the global pandemic. Buffet is considered one of the world's savviest investors. Like many other events, the annual pilgrimage had to go online for the first time due to the coronavirus pandemic. [Full Article...]

Buffett's Berkshire posts record net loss on coronavirus, operating profit rises

Buffett's Berkshire posts record net loss on coronavirus, operating profit rises Berkshire's first-quarter net loss totalled US$49.75 billion (RM214 billion), or US$30,653 per Class A share, reflecting US$54.52 billion of losses from investments, mainly common stocks. In documents filed Saturday, Berkshire noted that until mid-March many of its companies were posting "comparative revenue and earnings increases" over the same 2019 period. [Full Article...]

COVID-19: Trump signs Executive Order to avert meat shortage

COVID-19: Trump signs Executive Order to avert meat shortage In the lead-up to the 2020 election, all eyes are on Iowa. Get all the latest news on coronavirus and more delivered daily to your inbox. "We're working with Tyson, which is one of the big companies in that world". Unions were not impressed. "There are now 1,000 positive cases of the virus in my community, and the path of destruction leaves behind orphans, families and friends", said Chris... [Full Article...]

President Trump signs $484 billion new stimulus measure

President Trump signs $484 billion new stimulus measure The $349 billion allocated from the $2.2 trillion relief package enacted last month for the PPP program ran out on April 16 after just 13 days. Another public enterprise technology firm, Veritone, a Costa Mesa, Calif. This accounted for almost $343 billion of those initial funds and had the practical effect of rendering the program obsolete, without further funding. [Full Article...]

Farm Group President Pleased Ag Included In Economic Injury Disaster Loan Program

Farm Group President Pleased Ag Included In Economic Injury Disaster Loan Program Republicans complained Democrats had delayed the original version of bill, which included only money for small businesses. To be eligible for the funding under the EIDL, ag businesses will have to show that they have been injured by the economic downturn caused by the coronavirus . [Full Article...]

SBA Leak Exposes Personal Data Of Nearly 8,000 Businesses

SBA Leak Exposes Personal Data Of Nearly 8,000 Businesses It said its revenue has been "dramatically affected" by the coronavirus crisis and that it meant to use the PPP loan money to pay its employees and hire back furloughed workers. Businesses applying for an EIDL may request an advance of up to $10,000 to be delivered within three days of the request. By combining Lendsmart's AI technology to automate the SBA's PPP application with Griffin's market... [Full Article...]

Glut, low prices may force Nigeria, others to shut oil production

Glut, low prices may force Nigeria, others to shut oil production The May contract expires on Tuesday. Such an eye-popping slide is the result of a quirk in the oil market, but it underscores the industry's disarray as the coronavirus pandemic decimates the world economy. The collapse of later contracts underscored the severity of the crisis rocking oil in the age of coronavirus. Even the historic production cut agreement made between OPEC and its affiliated a... [Full Article...]

What we know about Gilead's remdesivir data

What we know about Gilead's remdesivir data The medical news website STAT News obtained a video of the discussion. As the coronavirus disease (COVID-19) pandemic outbreak spreads like wildfire across the globe, the entire world is laying in anxious wait for a cure or a vaccine to combat the virus which has brought normal life to a standstill as nearly the entirety of human race have been forced to go into self-isolation and home-quara... [Full Article...]

Coronavirus stimulus money starts to arrive into bank accounts

Coronavirus stimulus money starts to arrive into bank accounts The payments are part of the $2.2 trillion rescue package passed by Congress and then signed into law last month by President Donald Trump. They will also be eligible for $500 for each dependent child under 17. Those without a child will receive payment automatically. The IRS will use the information to confirm eligibility and calculate and send an economic impact payment . [Full Article...]

Next Week, Oil Set To Digest The Results Of OPEC+ Meeting

Next Week, Oil Set To Digest The Results Of OPEC+ Meeting U.S. WTI prices closed below $23 per barrel, a level which drives most of the American oil industry into losses. Crude oil made a run higher into the holiday weekend, gaining almost 4% on Thursday, before pulling back from an earlier spike as investors await more news on negotiations between major producers who are finalizing an agreement to slash record amounts of oil in response to the globa... [Full Article...]

Crude oil prices fall as 'OPEC+' delays meet on output cut

Crude oil prices fall as 'OPEC+' delays meet on output cut Futures in NY rose as much as 3.5%, after sliding more than 9% on Tuesday. USA crude inventories jumped by 11.9 million barrels to 473.8 million barrels in the week to April 3, according to data from the American Petroleum Institute (API) released on Tuesday. [Full Article...]

Amazon in contact with coronavirus test makers for potential screenings on employees

Amazon in contact with coronavirus test makers for potential screenings on employees The document separately indicated that Amazon is investigating the possibility of screening more than one person at a time for the virus, and it also plans to partner with a medical organization in its testing efforts. 2019 was the most successful Prime Day ever. The employees were simply demanding that the company close and sanitize the facility before allowing workers to re-enter after Amazon re... [Full Article...]

Wall Street stocks drop on disastrous United States unemployment data

Wall Street stocks drop on disastrous United States unemployment data French stocks lost 0.5% after also being slightly higher. The empty New York Stock Exchange is seen in a file photo as traders work remotely during the pandemic . Eastern time. The Dow Jones Industrial Average fell 75 points, or 0.4%, to 21,338, and the Nasdaq was down 0.1%. The relatively modest moves are a big departure from earlier in the month, when huge swings punished investors. [Full Article...]


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