French carmaker Renault to cut 15,000 jobs worldwide

French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the

French carmaker Renault to cut 15,000 jobs worldwide

French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the company's pre-existing problems.

Renault to cut 15,000 jobs

Carmaker Renault said on Friday that it would cut nearly 15,000 jobs, including 4,600 at its core French operations, as it seeks to steer out of a cash crunch exacerbated by the coronavirus crisis.

Renault to cut 15,000 jobs

French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the company's pre-existing problems.

French carmaker Renault to take extreme measures on costs, cuts 14,000 jobs

Top official admits that manufacturer had been spending way too much, plans 10% job cuts

French carmaker Renault announces 15,000 job cuts worldwide

Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. Renault said on Friday that nearly 4,600 jobs will be cut in France in addition to more than 10,000 in the rest of the world. The group's global

French carmaker Renault announces 15,000 job cuts worldwide

PARIS — Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years.

French carmaker Renault announces 15,000 job cuts worldwide

The group's global production capacity will be revised from 4 million vehicles in 2019 to 3.3 million by 2024, the company said. "The difficulties encountered by the group, the major crisis facing the automotive industry and the urgency of the ecological transition are all imperatives that are driving the company to accelerate its transformation," it said in a statement.

French carmaker Renault announces 15,000 job cuts worldwide

Renault, the French carmaker announces its cost-cutting plan of over three years. Renault will have 15,000 job cuts worldwide

French Carmaker Renault Plans to Eliminate Nearly 15,000 Jobs Worldwide Amid Pandemic

Earlier, French President Emmanuel Macron said that authorities intend to send 8 billion euros to support the automotive industry.

Renault to cut 15,000 jobs in US$2.2b cost cutting plan

PARIS: French auto giant Renault plans to cut around 15,000 jobs worldwide, including 4,600 in France, as part of a two billion euro (US$2.2 ...

Renault to cut 15,000 jobs worldwide, including 4,600 in France: Sources

French auto giant Renault plans to cut around 15,000 jobs worldwide, including 4,600 in France, as part of a two billion euro cost-cutting plan over three years, sources said Thursday. The plan,

Renault to cut 15,000 jobs in 'vital' cost-cutting plan

Carmaker Renault said Friday that it would cut nearly 15,000 jobs, including 4,600 at its core French operations, as it seeks to steer out of a cash crunch exacerbated by the coronavirus crisis.

Renault to cut 15,000 jobs in 'vital' cost-cutting plan

French carmaker Renault says nearly 4,600 jobs would be cut in France and more than 10,000 in the rest of the world – some 8% of the company's global workforce

Renault to cut 15,000 jobs in ‘vital’ cost-cutting plan

Production capacity will be cut to 3.3m by 2024 from 4m vehicles currently

Faltering Renault to cut 15,000 jobs worldwide, including 4,600 in France

French carmaker Renault said on Friday it was launching talks with unions to restructure some plants and potentially close others as it confirmed plans to cut around 15,000 jobs worldwide to ride out…

Renault to cut 14,600 jobs worldwide and lower capacity

Cost reductions aimed at outlasting the downturn that has rocked the auto industry

Renault Cutting Nearly 15,000 Jobs Worldwide to Save Costs

Renault announced it will be cutting 14,600 jobs around the world in a bid to save costs during the pandemic.

Renault poised to announce 15,000 layoffs worldwide

The overall cuts would affect just under 10% of Renault's 180,000 global workforce. The firm has around 48,500 staff in France.

Renault to slash about 15,000 jobs in €2bn cost-cutting plan

Carmaker eyes production cuts after fall in demand during coronavirus crisis

Renault to restructure French factories in high-stakes reboot plan

French carmaker Renault said on Friday it was launching talks with unions to reorganise and cease assembling vehicles at several plants in France ...

Renault poised to announce 15,000 layoffs worldwide: union

French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with ...

Renault announces nearly 15,000 job losses worldwide

Renault has announced nearly 15,000 job losses worldwide, including 4,600 in France in a €2 billion cost-cutting plan over three years.

Renault to restructure factories, confirms 15,000 job cuts

News News: PARIS: Carmaker Renault said on Friday it was launching talks with unions to restructure some French plants and potentially close others as it confirm.

Renault poised to announce 15,000 lay offs worldwide

Some 4,500 jobs would go in France, though largely through a voluntary departure plan and a retirement scheme, the CFDT's Franck Daout told Reuters on Thursday.

Renault to restructure French factories in bid to slash costs

French carmaker Renault said on Friday it was launching talks with unions to reorganise and cease assembling vehicles at several plants in France ...

Renault staying in Formula One despite massive restructuring

Renault will stay in Formula One, interim Chief Executive Coltilde Delbos said on Friday after announcing the carmaker's restructuring measures including plans to cut 15,000 jobs worldwide. Renault's F1 future had been uncertain given the financial pressures on the French car giant and a slump in demand due to the COVID-19 pandemic. Renault finished fifth overall last season.

Coronavirus crisis: Renault to lay off 150,000 employees globally

The overall cuts would affect just under 10% of Renault's 180,000 global workforce. The firm has around 48,500 staff in France

India GDP Q4: At 4.2% GDP Growth Lowest in 11 Years But Better Than Expected | Explained in 10 Points

RBI Governor Shaktikanta Das said the economic growth in 2020-21 is likely to be in the negative territory as the "macroeconomic impact of the pandemic is turning out to be more severe than initially anticipated".

India's GDP Growth Slows To 3.1% In March Quarter, 4.2% For FY20

Output of eight infrastructure sectors contracted by 38.1% in April.

GDP growth slows to 3.1% in Q4; fiscal deficit widens to 4.59% of GDP in 2019-20

Gross Domestic Product (GDP) 4th Quarter Data: The growth in GDP during 2019-20 is estimated at 4.2 per cent, slowing to an 11-year low, as compared to 6.1 per cent in 2018-19.

Covid-19 impact: India GDP growth slows to 3.1% in March quarter

Growth was 4.2% in the fiscal year through March 2020 as compared to 6.1% in FY19.The full impact of the lockdown on manufacturing and services will become more visible in the June quarter

India reports GDP growth for January-March quarter at 3.1%; 4.2% for FY20

India’s gross domestic product (GDP) growth slowed to 3.1 per cent in January-March quarter, official data showed on Friday.

GDP for 2019-20 Q4 plummets to 3.1%, full year growth at 4.2%

Data suggests that India's GDP growth in FY2019-20 slowed down to an 11-year-low of 4.2 per cent.

India GDP growth slows to 3.1% in Q4 as Covid-19 lockdown hits economy

In the services sector, growth in the hotels and financial services sectors fell to 2.6 per cent and 2.4 per cent in the fourth quarter

India GDP growth dips to 3.1 pc in Jan-Mar; 4.2 pc in 2019-20

The gross domestic product (GDP) had expanded by 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO) on Friday.

Q4 GDP data today: Why does the growth number matter to us?

Theoretically, the lockdown impacted the economy only in the last week of March. But, in reality much of the normal course of business had slowed down days before the nationwide lockdown came into effect. This is because people movement declined significantly much before the lockdown.

Amid coronavirus outbreak India’s GDP growth slows to 3.1% in Jan-March quarter of FY20

GDP: 3.1% for March quarter, 4.1% for year. But it is not due to coronavirus

GDP growth rate for March quarter slipped to 3.1% from 4.7% recorded during the previous quarter. The economy grew by 4.2% in 2019-20 for year. The coronavirus lockdown will have more impact in June quarter.

India Q4 GDP data to be out today: Brokerages expect growth to reflect COVID-19 pain

Lockdown that began in last seven days of March is expected to have taken a toll on economic growth; economy is likely to have entered a recessionary phase with some agencies even estimating a contraction of over 5 per cent in FY21

Q4FY20 GDP estimates out today: What's in store for India's economy

Economists and analysts indicated that the GDP figures released today will only offer an assessment of the early damage caused by Covid-19 outbreak. They also expect a sharp economic decline in upcoming quarters.

March quarter GDP growth to show drastic fall; brace for worse in Q1FY21 print

A note by ICICI Bank stated the country's March quarter GDP growth may come to 1.5 percent year-on-year (YoY).

GDP growth likely be at 3.6% in Jan-Mar quarter, says Care Ratings; govt to release data today evening

The country's GDP growth is likely to be at 3.6 percent in January-March 2020 as economic activity came to a complete halt due to the countrywide lockdown imposed to contain the coronavirus outbreak, says a report

GDP data: Yet another huge knock for Modi govt's economic growth story

India's economic growth falls for a third successive year, fiscal deficit widens to 4.6%; agriculture and govt spending prevent further decline

Canada GDP in April fell a record 11% as COVID-19 shutters economy

Gross domestic product in March fell by 7.2 percent from February, the most severe month-on-month plunge ever, although the decline was less than the 9 percent predicted by analysts. Statscan said the March and April decreases were likely the largest-ever consecutive monthly declines.

Crisis growing as GDP data signals weakening demand, growth impulses

India's economy was already slowing down before it entered the Covid-19 year of 2020-21, writes D K Srivastava.

What's the cost of Covid lockdown? Today’s GDP data will give an idea

To be sure, Indias growth was already at a six-year-low during the pre-lockdown period.

GDP numbers: Data collection affected due to COVID-19 outbreak, says government

The GDP growth for FY2019-20 came in at 4.2 percent, against 6.1 percent in FY 2018-19.

Q4 GDP Highlights: Growth slows to 3.1%, hurt by lockdown, beats estimates; govt adds caveat

Q4 FY 2019-20 GDP growth estimates Highlights: India's economy grew at 3.1 per cent in Q4 of the last fiscal, beating street estimates.

Quarterly growth slides to 3.1 per cent, more pain feared

Worries centre around Covid surge, slow recovery

GDP numbers reinforce belief that economy is headed for recession: Analysts

While estimates varied across brokerages and economists, the common thread that ran through the estimates was the fact that the economy is headed towards a recessionary phase

Canada’s economy saw record decline in March, with worse numbers forecast for April

Statistics Canada says GDP fell 7.2 per cent in March; the agency is forecasting a decline of 11 per cent in April as COVID-19 lockdowns took hold

ET View: Even before Covid, economy was slumping

The government needs to fix the banks and create a functional bond market. This alone can raise the rate of investment. Gross fixed capital formation as a share of GDP was down to 26% in Q4 of 2019-20, and 26.9% for the year as a whole. Without raising it by six percentage points of GDP, India cannot shed its low growth trap.

Google considering taking stake in Vodafone Idea: Report

A deal with Google could be a lifeline for Vodafone Idea, which owes as much as Rs 54,000 crore in adjusted gross revenue dues to the government.

Google could pick up stake in Vodafone Idea

A report in the Financial Times says Alphabet, Google’s parent company, is looking to buy 5 per cent stake in Vodafone's India business.

Google may pick 5% stake in Vodafone Idea

Google is considering acquiring a stake in Vodafone Group Plc’s struggling Indian business, the Financial Times reported, joining Facebook in investing in the world’s fastest-growing mobile arena. Google may take a stake of about 5% in Vodafone Idea, though the deliberations are at a very early stage, the FT cited people familiar with the matter as saying.

Vodafone Idea not considering any proposal from Google

On May 28, it was reported that Google was looking to enter India's telecom market via a 5 percent stake purchase in Vodafone Idea.

No proposal from Google, says Vodafone Idea

Google mulls Vodafone Idea stake acquisition - report

Google plans to invest in Indian operator Vodafone India. The US giant seeks to acquire a 5 percent stake in Vodafone Idea, Financial Times reports, citing unnamed sources familiar with the matter. No financial details related to the planned transaction have been disclosed. 

Vodafone Idea dismisses report of Google buying stake

"Currently, there is no proposal as reported by the media that is being considered at the Board," Vodafone Idea said

Vodafone Idea Denies Reports Of Likely Stake Sale Talks With Google

On Friday, Vodafone Idea shares rose 12.71% to Rs 6.56 apiece on the BSE on reports of a likely stake sale deal with Google.

Vodafone Idea stock jumps 35% on report of possible stake sale to Google

Analysts, however, say a 5 per cent sale will not help much given the cash burn and rising debt

Vodafone Idea: No proposal before Board on stake sale to Google, but evaluating various opportunities

The Financial Times had reported that Google was exploring to buy a 5% stake in Vodafone Idea.

Vodafone Idea issues clarification on reports of Google picking stake in company

Reacting to the reports of tech giant Google eyeing a 5 per cent stake in the company, Vodafone Idea on Friday clarified that there is no proposal before

Vodafone Idea shares up by 30% amid reports of Google investment

Vodafone Idea surges 35% on report Google eyeing 5% stake, trims gain later

The stock has been more-than-doubled from Rs 3.04 on April 1, as compared to a 13.4 per cent rise in the S&P BSE Sensex during the same period.

Vodafone Idea share price zooms 35% on report Google eyeing stake in telco

Share price of Vodafone Idea gained 35% to Rs 7.85 compared to the previous close of Rs 5.82 on BSE

Vodafone-Idea clarifies on reports of Google seeking to buy equity stake, here’s why the stock fell 15%

Cash-strapped telecom major Vodafone-Idea has clarified that its Board is currently not considering any proposal for investment in the comping, a day after The Financial Times reported that internet giant Google could pick up a 5% equity stake in the firm.

Vodafone-Idea share price jumps 15%, Google mulls 5% stake buy in cash-strapped telco

Struggling telecommunications firm Vodafone-Idea saw its share price jump 15% in the initial few minutes of trade on Friday as investors reacted to the news of internet giant Google considering a 5% equity stake buy in the company.

Google's 5 per cent investment would not provide relief to Vodafone Idea: Report

Google's 5 per cent investment, even if it materialises, would be inadequate to solve debt problems at Vodafone Idea, according to a Credit Suisse report.“While Google's investment into VIL wo

Vodafone Idea share price dips 20% from day's high after co clarifies on stake sale

Any such investment will provide a breather for Vodafone Idea which has been reeling under increasing financial stress.

No proposal before board now, says Voda Idea on Google picking stake in co

The clarification to the BSE by Vodafone Idea comes a day after reports that Alphabet Inc's Google is eyeing about 5% stake in the telecom company.

Daily briefing: Satellite picks up Chinese artillery near LAC; Google mulls taking stake in Vodafone Idea

After Facebook bought a stake in Jio, now Google is looking to invest in Indian telecom. The Financial Times reported that it is eyeing the debt-laden Vodafone Idea.

Voda Idea jumps 35% on reports Google eyeing 5% stake in telco

For a 5 per cent stake, Google will have to shell out $110 million.

Aritzia Inc. 2020 Q4 - Results - Earnings Call Presentation

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BRP Inc. 2020 Q1 - Results - Earnings Call Presentation

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Greece to open to tourists from 29 countries from June 15

Europe News: ATHENS: Greece said on Friday it will open to visitors from 29 countries from June 15, days before its peak tourism season begins.

Greece to open to tourists from 29 countries from June 15

ATHENS (Reuters) - Greece said on Friday it will open to visitors from 29 countries from June 15, days before its peak tourism season begins.

Greece to open to tourists from 29 countries in June

Greece has said it will open to visitors from 29 countries from 15 June, days before its peak tourism season begins, although Ireland is not on the list of countries.

Greece to allow visitors from 29 countries from June 15, but not UK

Greece listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic. The Greek Tourism Ministry said travellers from the permitted countries will be able to enter Greece on direct flights to Athens and to the northern city of Thessaloniki.

Greece: Tourists from 29 countries can fly in as of June 15

Greece on Friday listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic.

Greece to open airports to arrivals from 29 countries from June 15

Greece said Friday it would reopen its airports in Athens and Thessaloniki to arrivals from 29 countries from June 15, the start of the tourist season. Visitors would be allowed to fly into Greece from 16 EU countries, including Germany, Austria, Denmark, Finland, the Czech Republic, Baltic countries

Greece to open airports to arrivals from 29 countries from June 15

ATHENS: Greece said Friday it would reopen its airports in Athens and Thessaloniki to arrivals from 29 countries from June 15, the start of the tourist season. Visitors would be allowed to fly into Greece from 16 EU countries, including Germany, Austria, Denmark, Finland, the Czech Republic, Baltic countries, Cyprus and Malta, the tourism ministry said in a statement. But

Greece to allow visitors from 29 countries next month, but not UK

Greece on Friday listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic.

Greece to allow visitors from 29 countries next month, but not UK

The popular tourist destination was quick to impose a lockdown.

Greece will open its borders next month to holidaymakers from 29 countries

The Greek Tourism Industry has today listed 29 countries from which holidaymakers will be welcomed back to Greece next week as the country...

Greece open for travel from June 15th

The tourism ministry on Friday announced the list of countries for which Greece's borders will be "open" from June 15th, with flights permitted to land in

Greece to accept tourists from 29 countries from mid-June - but Ireland is not on the list

The Greek government imposed an early lockdown, which is credited with limiting the spread of Covid-19.

Greece Will Welcome Tourists Back, But Not Americans

Visitors from nearly 30 countries can travel to Greece as early as June 15

Greece bans Britons from going on holiday in the country when it reopens its borders on June 15 due to high level of UK coronavirus cases

While citizens of 29 other countries will be allowed to travel when Greece's airports reopen to tourists on June 15, the UK's number of coronavirus cases is still too high. Pictured, Mykonos.

Greece to allow visitors from 29 countries next month, but not UK

The popular tourist destination was quick to impose a lockdown.

Core sector output contracts by record 38.1 per cent in April

The output of eight core infrastructure industries shrank by a record 38.1 per cent in April due to the coronavirus-induced lockdown, according to the official data.

Output of eight infrastructure sectors contracts by 38.1% in April

During the month of nationwide lockdown, cement and steel output shrank 86% and 83.9% respectively, while electricity and coal output fell 22.8% and 15.5% respectively

India’s Core Sector Output Contracts By Record 38.1% In April

India’s core sector output shrank by a record 38.1% in April due to the coronavirus-induced lockdown, according to official data. 

Pandemic pain: Output of 8 core sectors contracts 38.1% in April

As expected, the lockdown wreaked havoc on the output of eight core industries in April, contracting 38.1 per cent for the month under review.The eight core industries — coal, crude oil, natural gas,

Lockdown impact: Eight core industries' output contracts by 38.1% in April

Output of eight infrastructure sectors saw 5.2% growth in year-ago period

Lockdown effect: Core sector output crashes record 38.1% in April

Infra segment hurt the most as cement and steel output tank by more than 80 per cent

Coronavirus impact: Output in eight core industries declines 38% in April

All eight core sectors reported massive decline in production during April, with coronavirus-mandated lockdowns in place. Cement and steel reported the biggest losses in output at 86 per cent and 83.9 per cent, respectively

Core sector output contracts 38% in April owing to stalled economic activity

In March, the output of the core sector that includes eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity — had contracted 9%.

India's eight core infrastructure sectors contract 38.1% in April

Massive contraction recorded amid a nationwide lockdown to contain the spread of coronavirus

India's economy may have grown at slowest in 2 years during March quarter

The full impact of the lockdown on manufacturing and services will become more apparent in the June quarter, with Goldman Sachs predicting a 45% contraction from a year ago

India's economy seen slowing rapidly in March quarter, with worse to come

Gross domestic product data out later on Friday is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment. The median forecast from a Reuters poll of economists

India’s economy seen slowing rapidly in March quarter, with worse to come

Economists expect worst financial contraction in four decades

India's economy seen slowing rapidly in March quarter, with worse to come

Gross domestic product data out later on Friday is expected to show India’s economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment.

India's economy seen slowing rapidly in March quarter, with worse to come

Gross domestic product data out later on Friday is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already

Lockdown impact: Economy seen slowing rapidly in March qtr, with worse to come

The full impact of the lockdown on manufacturing and services will become more apparent in the June quarter, with Goldman Sachs predicting a 45% contraction from a year ago.

India quarterly growth worst in two decades as lockdown bites

MUMBAI, May 29 — India’s economy grew at its slowest pace in at least two decades last quarter, government data showed today, with warnings of far worse to come as it grapples with the fallout of the world’s largest coronavirus lockdown. Asia’s third-largest economy expanded by just 3.1 per...

India quarterly growth worst in two decades as lockdown bites

India's economy grew at its slowest pace in at least two decades last quarter, government data showed Friday, with warnings of far worse to come as it grapples with the fallout of the world's largest coronavirus lockdown. The figures beat even gloomier forecasts, with Bloomberg News predicting

India quarterly growth worst in 2 decades as lockdown bites

India, Asia's 3rd largest economy, expands by just 3.1% in January-March 2020

GST Council may find it difficult to raise GST rates

It was widely expected that the GST Council could consider raising tax rates and cess on certain non-essential items to boost revenue for states and the Centre.Several states have reportedly taken an over 80-90% hit in GST collections in April

Hike in GST rates unlikely

If goods and services tax (GST) rates are increased on non-essential items, sources said it will further bring down their demand and impede the overall economic recovery.

Council may find it difficult to raise GST rates

 The GST Council is unlikely to make major changes in the indirect tax structure at its next meeting slated mid June.

Council may find it difficult to raise GST rates

IANS New Delhi The GST Council is unlikely to make major changes in the indirect tax structure at its next meeting slated mid June. A top government so

GST Council to meet next month; FinMin not for raising rates on non-essential items

Post the lockdown, the demand has to be induced and economic activity has to improve on all fronts, not just on essential items side, they said. However, the decision will be taken by the GST Council headed by the finance minister, according to sources.

GST Council to meet next month; FinMin not for raising rates on non-essential items

If goods and services tax (GST) rates are increased on non-essential items, sources said it will further bring down their demand and impede the overall economic recovery.

Govt unlikely to press for hike in GST rates for non-essentials next month

However it will have to find ways in which essential and non-essential items can be segregated

Council may find it difficult to raise GST rates

IANS New Delhi The GST Council is unlikely to make major changes in the indirect tax structure at its next meeting slated mid June. A top government so

COVID-19 pandemic: US consumer spending tumble in April

The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, plunged 13.6 percent last month.

Coronavirus depresses U.S. consumer spending in April

U.S. consumer spending suffered another month of record decline in April as the COVID-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression. The Commerce Department said on Friday consumer spending,

Coronavirus depresses U.S. consumer spending in April

WASHINGTON (Reuters) - U.S. consumer spending suffered another month of record decline in April as the COVID-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression.

Coronavirus depresses US consumer spending in April

WASHINGTON, May 29 — US consumer spending suffered another month of record decline in April as the Covid-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression. The Commerce Department said today...

Government's stimulus program to boost consumer spending

The world has been experiencing an unprecedented economic downturn due to the COVID-19 pandemic. A significant number of economic activities have shut down. With increasing unemployment, economists are devising and proposing economic measures that could help ensure a sustainable increase in consumer spending and circumvent a long-term economic recession. However, whether the proposed economic measures are going to provide a long-term solution to these problems remains a concern.

Report: Consumer spending falls 13.6 percent despite stimulus handouts

May 29 (UPI) -- Consumer spending fell 13.6 percent in April despite personal income and disposable personal income increasing, the Bureau of Economic Analysis said Friday.

US consumer spending sinks by record 13.6% in face of virus

WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.

US consumer spending sinks by record 13.6% in face of virus

WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.

Federal government to clear all Centrelink robo-debts, refund money

More than $720 million raised through the Morrison government's controversial Centrelink robo-debt program will be refunded.

Robodebt: government to refund 470,000 unlawful Centrelink debts worth $721m

Debts raised under the Coalition’s unlawful income-averaging scheme will start to be repaid in July

The government has announced it will refund $721 million it claimed as part of its unlawful 'robodebt' scheme

The federal government has announced it will scrap its controversial ‘robodebt’ scheme, which attempted to automatically claw back alleged overpayments to social security recipients, and will refund $721 million to those who already paid.

AU$721 million in robo-debts to be returned as Australian government admits error | ZDNet

Services Australia has identified 470,000 debts raised wholly or partially using income averaging of ATO data.

The Government Will Refund Millions Of Dollars To People Affected By Robodebt

Around $721 million is expected to be refunded to people who were affected by the government's disastrous robodebt scheme.

The Govt Just Axed Its Fucked Robodebt Scheme & Is Now Refunding A Casual $721 Million

The Australian Federal Government has today announced that they will refund the $721 million worth of funds recouped by the robodebt scheme.

$721m to be refunded after robodebt backflip

The Morrison government will refund $721 million raised against 470,000 debts under its controversial robodebt scheme.

RBI slaps penalties on Bank of India, Karnataka Bank, Saraswat Cooperative Bank for non-compliance

RBI also imposed a penalty of Rs 1.2 crore on Karnataka Bank for non-compliance with central bank’s directions.

RBI fines Karnataka Bank

Karnataka Bank has informed the stock exchanges that Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.20 crore on it for divergence in respect of non-performing assets (NPAs) and non-a

RBI imposes Rs 4 crore penalty on Citibank

In a release, RBI said the penalty has been imposed on Citibank NA for contravention of certain sections of the Banking Regulation Act and for non-compliance with directions.

RBI Imposes Rs 4 Crore Penalty On Citibank Over Non-Compliance Of Regulations

The action will not affect the bank's customers, RBI clarified

RBI slaps penalty worth crores of rupees on three banks, including one PSU and one cooperative bank

The Reserve Bank of India has slapped a penalty amounting to a total of Rs 6.50 crore on Bank of India, Karnataka Bank, and Saraswat Cooperative Bank.

RBI fines Citibank Rs 4 cr for flouting rules, co-op banks penalised too

Move follows fines imposed yesterday on Bank of India (Rs 5 crore), Karnataka Bank (Rs 1.2 cr) and Saraswat Co-operative Bank (Rs 30 lakh)

RBI imposes monetary penalty on 4 banks

The Reserve Bank of India (RBI), on Friday, said it has imposed a monetary penalty on Citibank (₹4 crore), Bharat Co-operative Bank (₹60 lakh), TJSB Sahakari Bank (₹45 lakh), and Nagar Urban Co-operat

Volkswagen spending $2.2 billion to expand in China’s electric car market

Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China's electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic.

VW spending $2.2B to expand in China’s electric car market

Volkswagen makes its biggest foreign investment of $2.2 billion to make its presence in the Chinese electric vehicle market.

VW spending $2.2B to expand in China's electric car market

Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China's electric car industry in the biggest foreign investment announced since the country's economy began to reopen following ...

Volkswagen Pumps $2.2 Billion Into China EV Operations, Expands Cooperation With Ford

Earlier this month, Volkswagen announced it was rethinking its plan to use its SEAT brand to spearhead its electric vehicle efforts in China. It wasn't exactly clear at that time what the company's Plan B was. Certainly it was not abandoning its China plans, was it? This week, that question has been answered. The company

VW spending $2.2B to expand in China's electric car market

BEIJING — Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China’s electric car industry in the biggest foreign investment announced since the country’s economy began to reopen following the coronavirus pandemic.

VW spending $2.2B to expand in China's electric car market

Volkswagen is spending 2 billion euros (US$2.2 billion) to expand its presence in China's electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic.

Peet’s Coffee IPO Raises $2.5 Billion 

Peet’s Coffee IPO Raises $2.5 Billion 

Peet's Coffee raises $2.5 billion in an IPO despite the coronavirus pandemic

Peet's Coffee raised $2.5 billion in its initial public offering, one of the largest this year despite the coronavirus pandemic.  The company an...

Coffee maker JDE Peet's shares pop 15% after $17 billion virtual IPO

AMSTERDAM (Reuters) - Shares in coffee maker JDE Peet’s surged 15% in their stock market debut on Friday as investors jumped on the only big European IPO launched during the coronavirus crisis.

As Peet’s Coffee Parent Shares Surge Post IPO, Expect It To Be A Bigger Contender Against Starbucks

The coronavirus pandemic may have shut restaurants and cafes, but it’s not quenched the thirst for coffee: shares of Peet’s Coffee parent JDE Peet's surged 14% on Friday after an initial public offering, likely paving the way for Peet’s to be a bigger challenger against coffee house giant Starbucks.

Douwe Egberts' parent valued at €15.6 billion in Amsterdam IPO

Coffee maker JDE Peet's, parent company of Douwe Egberts among others, made its stock debut on Amsterdam's AEX on Friday, one of only a handful of IPOs launched in the coronavirus crisis. Shares

European coffee giant brews a strong IPO

JDE Peet's shows that coffee is a good mix to have in a virus-struck marketplace

When will shops in malls open? Commerce Ministry clarifies after Piyush Goyal meets traders

Issues of retail traders were discussed in a meeting between Commerce and Industry Minister Piyush Goyal on Thursday with representatives of traders associations through video conferencing.

No need to feel threatened by e-commerce firms: Goyal tells traders

Lockdown 5.0: Union Commerce Minister also stated the Aatmanirbhar Bharat package that provided credit guarantee worth Rs 3 lakh crore for MSMEs also included traders

Centre will soon decide on opening shops in malls: Goyal

‘MSME schemes, including credit guarantee programme, covers traders also’

Decision to open shops in malls soon after taking into account health ministry's guidelines

Issues of retail traders were discussed in a meeting between Commerce and Industry Minister Piyush Goyal on Thursday with representatives of traders associations through video conferencing.

Decision to open shops in malls soon after taking into account health ministry's guidelines

"The decision to open the remaining shops in the malls, will be taken soon, after taking into account the guidelines of the health ministry," the ministry said in a statement.​

Decision to open shops in malls soon after taking into account health ministry's guidelines

The decision to open shops in malls, will be taken soon, after taking into account the guidelines of the health ministry, the commerce and industry ministry said on Friday.

Volkswagen invests 2 billion euros in Chinese electric vehicle sector

Volkswagen will take a 50% stake in JAG – the parent company of state-owned JAC Motors – and a 26% share of Chinese battery supplier Gotion High-Tech

Volkswagen invests 2 billion euros in Chinese electric vehicle sector

Volkswagen said on Friday it will invest around 2 billion euros ($2.2 billion) in two Chinese companies in the electric vehicle sector, calling it "the world's biggest market".

Volkswagen invests two billion euros in China – new acquisitions are part of its electrification strategy

Volkswagen has announced some big moves in China as part of its electrification strategy in the world's largest auto market. The German giant plans to

Volkswagen invests US$2.2b in Chinese electric vehicle sector

Volkswagen said on Friday it will invest around 2 billion euros ($2.2 billion) in two Chinese companies in the electric vehicle sector, calling it ...

Volkswagen Ploughs Over $2 Billion Into the Chinese Electric Car Industry

On Friday, Volkswagen announced it would be investing $2.2 billion in two companies in the Chinese electric vehicle sector in a bid to push forward the "world's biggest market" towards the electrification of cars.

Vestager hits back at Lufthansa bailout criticism

Commission vice-president in charge of competition Margarethe Vestager argued that companies getting large capital injections from the state during the corona crisis still have to offset their competitive advantage.

Vestager says she is not placing extra hurdles in way of Lufthansa bailout

BRUSSELS — EU antitrust chief Margrethe Vestager on Friday denied that she is placing additional hurdles in the way of Lufthansa’s $10 billion government rescue, which has been held up by her demand for the stricken airline to give up airport slots.

EU says conditions needed in Lufthansa bailout, seeks deal

The EU competition chief said Friday that she is not 'creating extra hurdles' for Lufthansa after the airline balked at accepting a 9 billion-euro German government rescue package because of what it said were tough EU conditions.

Preliminary agreement reached in Lufthansa bailout row: source

Preliminary agreement reached in Lufthansa bailout row: source

German official sees Lufthansa bailout in reach, demands fairness

The Berlin government is likely to reach a deal with Brussels on a US$10 billion government bailout of stricken airline Lufthansa , senior ...

SpiceJet Gets DGCA Approval To Conduct Drone Trials; To Be Used In Delivery Of Essential Supplies

Airline major SpiceJet plans to use drones for cost -effective delivery of medical, essential supplies and e-commerce. The airline company, the only one till now, has received approval from the Directorate General of Civil Aviation (DGCA) to conduct drone trials.

SpiceXpress: SpiceJet gets DGCA nod for drone trials

Low cost carrier SpiceJet has received formal approval from the Directorate General of Civil Aviation (DGCA) to conduct drone trials, the airline said on Friday.Post trials and approvals, SpiceXpress, the dedicated cargo arm of SpiceJet, plans to use drones to provide for a quicker, faster and a cost-effective delivery

SpiceJet gets DGCA approval to conduct drone trials, plans delivery of essentials in remote areas

A SpiceXpress-led consortium had submitted a proposal to the regulator for conducting experimental Beyond Visual Line of Sight (BVLOS) operations of remotely piloted aircraft in response to a DGCA notice inviting Expression of Interest.

SpiceJet gets DGCA approval to conduct drone trials, will deliver essential goods in remote areas

Earlier this month, the Ministry of Civil Aviation granted exemptions to 13 consortia, to operate drones on an experimental basis.

SpiceXpress receives DGCA approval for drone trials

Post trials and approvals, the airline plans to use drones in delivery of essential supplies to remote areas, the company said in a release.

Oil Prices Rebound Nearly 90% In May For Best Month On Record

Prices increased by more than 5% on Friday.

Oil prices fall as U.S. fuel demand remains weak

Oil prices fall as U.S. fuel demand remains weak

Crude has best month on record in May as prices surge 88 per cent

Canada's oil patch has little to celebrate even though crude oil prices concluded their best ever month.

Crude has best month

Canada's oil patch has little to celebrate even though crude oil prices concluded their best ever month.

Oil Posts Best Month Ever, Even As Rig Cuts Decline, Stockpiles Climb

Oil Posts Best Month Ever, Even As Rig Cuts Decline, Stockpiles Climb

Williams considers sale of struggling F1 team

Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction, Williams Grand Prix Holdings (WGPH) said on Friday.

Williams reveals it is for sale

Backmarker Formula 1 team Williams has admitted it may be sold.

Formula 1: Williams considers sale of team as board struggles from £13 million loss in 2019

Williams said on Friday it was considering selling its once-dominant but now struggling Formula One team as part of a strategic review.

Williams set to sell Formula One team following financial losses

Williams are considering selling their Formula 1 team due to growing financial pressures.This mo...

Want to buy an F1 team? Williams is considering selling

LONDON — Williams said on Friday it was considering selling its once-dominant but now struggling Formula One team as part of a strategic review. Williams G

Williams set to sell Formula One team

Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction.

Williams set to sell Formula One team

Williams is considering a sale of its once-dominant but now struggling Formula One team as part of a new strategic direction.

GBP/USD: The pound is set to see losses amid geopolitical strains

GBP/USD has struggled to take advantage of dollar weakness amid a slew of British issues. Sino-American tensions, Brexit speculation, and end of month

GBP/USD: New month, new falls amid a never ending Brexit story

GBP/USD cannot complain about the lack of volatility – albeit things are becoming more complex. The first week of June consists of top-tier US publica

Pound Sterling Price News and Forecast: GBP/USD – Falling on Friday? [Video]

The broad dollar weakness is really helping Cable bulls at the moment, so much so that there is a renewed prospect of continued recovery. In the past

Pound-to-Australian Dollar Rate Won't be Spared by China's Moves against Australia Or USD/CNH

The Pound vs Australian Dollar: Latest GBP/AUD Forecasts, News and Analysis

Pound-to-New Zealand Dollar Rate Breaking Down into New Lower Range, but Nears Support

The British Pound Sterling vs the New Zealand Dollar: Latest GBP/NZD News and Analysis

Rony Abovitz confirms Magic Leap's new funding, will step down as CEO

Magic Leap has secured new funding to back its plan in building augmented reality tech for business use, but it will eventually move forward with a new CEO as Rony Abovitz is stepping down.

Magic Leap CEO Rony Abovitz to Step Down After Company Fails to Deliver

Magic Leap CEO resignation comes weeks after company lays of 1,000 employees and warns of closure without capital injection.

Magic Leap is looking for a new CEO as founder Rony Abovitz is stepping down

Abovitz said in a message on the company’s website that after securing “significant” new funding and pivoting to focus on delivering a spatial computing platform for enterprise clients, both he and the board agreed that a change in his role…

Magic Leap CEO Rony Abovitz is stepping down

Magic Leap founder Rony Abovitz confirmed he has raised a new round of funding, and he also announced he will step down as CEO.

Magic Leap CEO to step down

Mixed reality headset manufacturer Magic Leap announced founder and CEO Rony Abovitz will leave his ...

Exxon Mobil: Higher Oil Prices To Recover Share Price

Exxon Mobil is one of the world’s largest oil and gas companies. The company’s business has been hit hard by coronavirus outbreak but oil prices may quickly rec

Keep It Simple and Avoid Exxon Mobil Stock

Higher oil prices may have investors considering buying Exxon Mobil stock. But, the murkiness surrounding demand makes the stock a poor bet.

Protecting the Dividend at Any Cost Is a Real Risk to Exxon Mobil Stock

An obsession with maintaining its dividend by racking up debt in these uncertain times is a drag on Exxon Mobil Stock.

Fossil Fuels

A federal court in Massachusetts remanded the state’s claims against Exxon Mobil alleging the oil company deceived investors by denying and downplaying the risks of burning fossil fuels on the planet.

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

VAUGHAN, Ont. — CannTrust Holdings Inc. says Health Canada has reinstated its licenses for its greenhouse in Niagara and that it will immediately restart operations.

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations.

CannTrust plans to restart Niagara greenhouse after Health Canada reinstates licence

The cannabis company says it cannot say when its products will be available in the market as that depends on a Health Canada decision regarding its manufacturing facility in Vaughan, Ont.

CannTrust back in business

CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations.

Stocks - Wall Street Slips as U.S. Consumer Wobbles; Trump's China Speech Eyed

Stocks - Wall Street Slips as U.S. Consumer Wobbles; Trump's China Speech Eyed

Stocks - Dow Notches Two-Month Winning Streak as Trump Stops Short on China

Stocks - Dow Notches Two-Month Winning Streak as Trump Stops Short on China

Stocks Turn Positive After Trump Keeps Phase One China Trade Deal Intact

Trump took a more confrontational approach with China on Friday.

US stocks slide as traders await Trump's China news conference

US stocks slipped on Friday ahead of President Donald Trump's news conference on China. US consumer spending in April also posted the biggest dr...

Tata-Mistry battle: Supreme Court to hear Cyrus Mistry's plea for Tata Sons board position

The apex court's final order in the matter will be important as the dispute has now boiled down to two key issues --a board position for the minority shareholder Shapoorji Pallonji group and turning back Tata Sons into a public limited company from private

SC issues notice to Tata Sons on cross-appeal of Mistry group firm against NCLAT order

The top court had on January 10 granted relief to Tata group by staying the National Company Law Appellate Tribunal (NCLAT) order of December 18 last year, by which Mistry was restored as the executive chairman of the salt-to-software conglomerate.

Apex court to hear Mistry’s plea for seat on Tata Sons board

The Supreme Court on Friday agreed to hear ousted Tata Group Chairman Cyrus Mistry’s petition seeking a “proportionate” representation for Shapoorji Pallonji Group (SP Group) on Tata Sons board.The SP

SC issues notice to Tata Sons on cross-appeal of Mistry group firm against NCLAT order

The top court had on January 10 granted relief to Tata group by staying the National Company Law Appellate Tribunal (NCLAT) order of December 18 last year, by which Mistry was restored as the executive chairman of the salt-to-software conglomerate.

Debate over USD 600 in jobless aid to intensify as claims rise

A debate in Congress over whether to extend USD 600 a week in federally provided benefits to the unemployed looks sure to intensify with the number of people receiving the aid now topping 30 million one in five workers.

Debate over $600 in jobless aid to intensify as claims rise

The $600 in federal benefits was added as a way to replace all of an average worker’s lost income.

Debate over $600 in jobless aid to intensify as claims rise

The money, included in a government relief package enacted in March, is set to expire July 31.

Debate over $600 in jobless aid to intensify as claims rise

WASHINGTON (AP) — A debate in Congress over whether to extend $600 a week in federally provided benefits to the unemployed looks sure to intensify with the number of people receiving the aid now topping 30 million — one in five workers.The money, included in a government relief package enacted in March, is set to expire July 31. Yet with the unemployment rate widely expected to still be in the mid-teens by then, members of both parties will face pressure to compromise on some form of renewed benefits for the jobless.Democrats have proposed keeping the $600-a-week payments through January in a $3 trillion relief package that the House approved this month along party lines. Senate Republicans oppose that measure.

'Historic measure': Spain backs minimum income for most vulnerable

"A country does not prosper if it leaves out part of its population," said Spain PM Pedro Sanchez as his government backed the introduction of a minimum income for the country's most vulnerable.

Spain takes 'giant step' on guaranteed minimum income

The minimum income guarantee was a condition included in the coalition agreement between the Socialists and the leftist group Unidas Podemos, after the indecisive results of the November national elections.

Spain govt okays basic income scheme to tackle poverty

Spain's leftwing government approved a minimum basic income scheme on Friday to tackle a spike in poverty stemming from the virus crisis that has forced many families to rely on food aid.

Spain's government pushes through basic income guarantee to fight poverty

The Spanish government approved on Friday the creation of a minimum income worth 462 euros ($514) a month for the poorest, Deputy Prime Minister Pablo Iglesias told a news conference, in a scheme tha…

Sweden snubbed as Norway and Denmark open borders

Countries will remain closed to Swedish visitors because of its Covid-19 infection rate

Norway and Denmark drop mutual border controls - but exclude Sweden

Scandinavian neighbour barred for now because of higher coronavirus death toll

Denmark and Norway cut coronavirus-hit Sweden out of free travel deal

The governments of Denmark and Norway have cut Sweden out of a deal allowing each other's tourists to travel freely between the two countries — citing their Nordic neighbour's higher levels of coronavirus infection. The deal, announced at parallel press conferences in Oslo and Copenhagen on Friday

Nordics want to open borders but Sweden may be frozen out

Denmark, Finland and Norway mull whether to extend or relax regional travel restrictions, but their neighbor may not be included.

Andhra Paper Q4 net profit up 55% to Rs 93 crore

Andhra Paper's total expenses stood at Rs 234.42 crore as against Rs 285.45 crore, down 17.87 per cent.

ESAF Small Finance Bank Q4 results: Net profit zooms two-folds to Rs 190 crore

The bank's advances grew 37 per cent to Rs 6,818 crore with deposit rising 63 per cent to Rs 7,028 crore.

ESAF Small Finance Bank Q4 PBT up 42% at Rs 74 cr, income rises 32%

Full-year PBT doubles to Rs 256.26 crore from Rs 127.18 crore

Fiscal deficit widens to 4.6% of GDP in 2019-20, higher than revised estimates of 3.8%

The country's fiscal deficit widened to 4.6 percent of the Gross Domestic Product in 2019-20 mainly on account of poor revenue realisation, according to official data

Fiscal deficit widens to 4.6% of GDP in FY20 on poor revenue realisation

The deficit, which signifies the gap between government revenue and expenditure, is higher than the revised estimate of 3.8 per cent for the fiscal

At 4.6% of GDP, last year's fiscal deficit breached FRBM Act escape clause

The total revenue for FY20 was Rs 17.5 trillion, or 90.6 per cent of revised estimates of Rs 19.32 trillion, compared with 91.4 per cent for the same period last year.

GDP growth in 2019-20 slows to 11-year low of 4.2%, Jan-Mar growth dips to 3.1%

In 2019-20, the Indian economy grew by 4.2% against 6.1% growth rate in 2018-19.

GDP growth slows to a 11-year low of 4.2%, Q4 slumps to 3.1%

In 2019-20, the Indian economy grew by 4.2% against 6.1% expansion in 2018-19.

India Heads for Recession as GDP Growth Dips to Lowest since 2012

New Delhi (Sputnik): The Indian economy had been slowing down since 2018 due to the combined impact of the US-China trade war as well as instability in domestic...

Stocks recover after Trump's announcement on Hong Kong

May 29 (UPI) -- President Donald Trump's planned news conference on China shook up stocks early Friday, but the major indexes mostly recovered by the end the day after his announcement revealed no changes to trade with Beijing.

Asia-Pacific Stocks Decline As China Passes Resolution on Hong Kong Security Bill

On Wall Street, major stock indexes suffered losses in overnight trading on Thursday, while the US economy gradually reopens from the coronavirus-induced lockdown.

Seoul stocks open lower on Wall Street losses

South Korean stocks opened lower Friday, tracking overnight losses on Wall Street amid rising Sino-American tensions over China's passing of a new national security law on Hong Kong. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 10.80 points, or 0.53 percent, to 2,017.74 in the first 15 minutes of trading. The fall was largely attributed to the latest development in the Sino-American dispute on ...

Amazon in talks for new 750-worker Dublin office despite virus

Amazon is in talks to rent an office block in Dublin with space for about 750 workers.

Amazon in talks for new office despite pandemic

Amazon.com Inc. is in talks to rent an office block in Dublin with space for about 750 workers, according to a person familiar with the matter.

Amazon in talks for new Dublin office even as virus hits

Amazon.com Inc. is in talks to rent an office block in Dublin with space for about 750 workers, according to a person familiar with the matter.

IOA finance chairman refuses hotel bookings for Tokyo Games without president’s sanction

PTI New Delhi Indian Olympic Association’s finance committee chairman Anil Khanna on Friday defended his decision not to give clearance for hotel bookin

Anil Khanna defends decision, says can't authorise expenditure in absence of approval from president or secretary general

Tokyo Olympics News: Indian Olympic Association's finance committee chairman Anil Khanna on Friday defended his decision not to give clearance for hotel bookings relating

Tokyo Olympics 2020: Anil Khanna defends decision to not give early clearance for hotel bookings, argues absence of president or SG

IOA President Narinder Batra had asked Khanna to furnish

Government announces furlough scheme changes – what you need to know

The Chancellor Rishi Sunak has announced a series of changes to the Government's furlough scheme today, including workers being able to go back part-time from July. Here's what you need to know

Coronavirus Employees' Help

If you're worried about work during the coronavirus crisis, this guide looks at your rights as an employee including who's eligible to be furloughed.

TWSS open to women returning from maternity leave

The Temporary Wage Subsidy Scheme has been amended to allow women who were on maternity leave to access the payment.

Google (NASDAQ: GOOGL) Terminates Thousands of Job Offers as It Continues to Battle a Plunge in Ad Revenue

Google has now canceled the job offers of thousands of temporary and contract workers as it continues to battle a decline in ad revenue

Google has rescinded thousands of job offers to temporary and contract workers, as the company continues to feel the sting of the pandemic

In its latest cost-cutting measure, Google has reportedly rescinded job offers to more than 2,000 contractors who were preparing to join the company.

Google Rescinds Offers To Thousands of Contract Workers

Google, facing an advertising slump caused by the pandemic, has rescinded offers to several thousand people who had agreed to work at the company as temporary and contract workers. From a report: "We're slowing our pace of hiring and investment, and are not bringing on as many new starters as we had...

Brazil’s Embraer draws foreign interest after Boeing rift, say sources

SAO PAULO, May 29 — Aircraft makers are circling Brazil’s Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said. Boeing axed plans to buy 80 per cent of Embraer’s commercial unit in April, ending a planned move into regional...

Brazil’s Embraer drawing foreign interest after collapse of Boeing deal

China’s state-owned COMAC plane maker has voiced informal interest in co-operation with the world’s third-largest jet maker, sources said

Exclusive: Brazil's Embraer draws foreign interest after Boeing rift - sources

Exclusive: Brazil's Embraer draws foreign interest after Boeing rift - sources

Main Street’s Pandemic-Led Shift To Digital Innovation

With the lockdown of the United States economy, SMBs faced the choice of finding digital ways to reach customers or run the risk of going out of business.

Creating Value Through Digital Transformation

Surviving the most challenging economic conditions since the Great Depression, and thriving once the pandemic eases, requires flexible and imaginative thinking and the ability to manage the innovation process.

Almost all firms 'forced to rethink tech priorities'

Global pandemic triggers shift to an almost completely digital working set-up.

Committees on tourism put transformation high on the agenda of the South African tourism

CAPE TOWN, SOUTH AFRICA - The Portfolio Committee on Tourism and the Select Committee on Trade and Industry, Economic Development, Small Business Development, Tourism, Employment and Labour  received a briefing from the South African Tourism (SAT) on their five-year strategic and annual performance plans.   The report was well received as the committees were reassured by SAT that the target of 21 million tourist arrivals will be met by 2030. The committees welcomed the assurance to achieve that target after COVID-19 as

Fast-track construction of S.African hospital in response to COVID-19

In South Africa, the construction of a R3 billion hospital, originally scheduled for completion by November, has been fast-tracked to open by June.

Covid-19’s Attempt To Snuff Out African Tobacco Is Going Up In Flames

At the end of March, South Africa had imposed the most severe and controversial lockdown in Africa. To add to its combating efforts against the coronavirus, the nation included a ban on the sale of alcohol and tobacco. The effects rang throughout Southern Africa, the unofficial capital of the continent’s tobacco business. In as much as Covid-19 presented a challenge for the industry, there is reason to believe that the later would be greater than the present. Developing Africa has become an attractive market for the tobacco industry due to its increases in its income, growing population size, foreign direct investment (FDI), and improved life expectancy. A Ban That Backfired South Africa plans to ease its nationwide lockdown as from June 1, allowing limited alcohol sales and the reopening of bars. But, the government does not show signs of lifting the ban on tobacco products like vapes and snus.

Foreign Exchange Reserves Soar To Record High Of $490.04 Billion

The country's foreign exchange reserves swelled by $3.005 billion to a lifetime high of $490.044 billion in the week to May 22.

India's forex reserves soar to record high of $490.04 billion

Foreign currency assets (FCA), a major component of the overall reserves, increased by $3.035 billion to $451.706 billion in the reporting week, Reserve Bank of India (RBI) data showed.

Volkswagen says it will have full control of JAC-VW Chinese venture

BEIJING/SHANGHAI (Reuters) - German automaker Volkswagen (VOWG_p.DE) will have full management control of its JAC-VW joint venture, the company’s China CEO said on Friday.

Volkswagen says it will have full control of JAC-VW Chinese venture

German automaker Volkswagen will have full management control of its JAC-VW joint venture, the company's China CEO said on Friday.

Powell speech: Evidence on whether negative rates work is mixed

The Federal Reserve's Main Street Facility is very challenging because of the wide diversity of companies, Jerome Powell, Chairman of the Federal Rese

Powell Speech: Fed is strongly committed to using its tools

The Federal Reserve is committed to using its tools, Jerome Powell, Chairman of the Federal Reserve System, reiterated on Friday while delivering a sp

Some US asset managers are slashing fees on money market funds so their investors don't lose money because returns are so low

Asset management firms in the US are slashing fees charged on short-term debt funds as plunging interest rates and yields on US government debt ...

US money market funds waive fees to stave off negative returns

Decline in yields on short-term debt prompts action from asset managers

Ukraine expecting $5 billion IMF loan approval and initial payout next week: PM

Ukraine expecting $5 billion IMF loan approval and initial payout next week: PM

Ukraine expects US$5 bln IMF loan approval on June 5 – PM Shmyhal

The first tranche of US$1.9 billion may be disbursed the following day.

Amazon Sellers Are Marking Products As 'Collectible' To Get Around Price Gouging Rules

Amazon has suspended thousands of third-party sellers for price gouging during the COVID-19 pandemic, but sellers have found a loophole to avoid detection when raising prices: labeling their products as "collectibles," even if there's no conceivable way they could be. The Verge reports: Take this B...

Amazon sellers are marking products as ‘collectible’ to get around price gouging rules

Thousand-dollar "collectible" dumbbells and hot tubs.

Britain seeking new entrants to 5G market: PM's spokesman

LONDON (Reuters) - Britain set out in January that it was seeking entrants into the market for 5G telecommunications and that London is speaking to allies about it such as the United States, a spokesman for Prime Minister Boris Johnson said on Friday.

UK Wants 5G Club Of 10 Countries, Including India, To Cut Out China's Huawei: Report

Britain said Friday it was pushing the United States to form a club of 10 nations that could develop its own 5G technology and reduce dependence on China's controversial technology giant Huawei.

Low demand, high inventory; housing sector facing its worst: CREDAI head

Shah said that interest subvention is the "need of the hour"

India’s housing sector facing its worst-ever crisis: CREDAI

IANS New Delhi Already reeling under liquidity concerns, low demand and high inventory levels, India’s housing sector is facing its biggest-ever crisis

CVS is testing driverless vehicles in Houston for safe, socially distanced medical deliveries

Self-driving startup Nuro announced that it will deliver prescriptions autonomously to residents in parts of one Texas city. A boon for social distancing.

GetSwift: A Smart Bet On The Post-Corona Delivery Revolution

GetSwift’s Growth Has Accelerated After Coronavirus Led to More Deliveries and Delivery Model Becomes Widespread Post-Coronavirus. Restaurants Prefer Controllin

S&P: Indian economy will shrink by 5% in FY21 due to coronavirus crisis

In its latest report, S&P Global Ratings predicted India’s economy to contract 5% in the current fiscal year (FY2021), as the coronavirus pandemic con

India's economic growth dips during coronavirus pandemic

NEW DELHI — India’s economy grew by 4.2% in the fiscal year that ended in March, down from 6.1% the previous year, the government said Friday, and is likely to contract this year because of the coronavirus pandemic. The growth dipped to 3.1% in January-March, the last quarter of the fiscal year, as the country …

Economy needs the support of PSBs, says Union Bank chief

The country’s economy, which has been hit by the Covid-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, said an official on Friday. The number of PSBs has come d

Banks' $47b bonanza as buyers back recovery

Growing optimism that the economy will emerge from the pandemic in better shape than previously expected triggered a monster bank buying spree.

Over 120 Billion Idle XRP Tokens Moved: Volatility Is Near

Ripple’s XRP token is going through a stagnation phase without giving any clear signs of where it is headed next. The cross-border remittances token has been co

Federal Judge Merges Two Cases Against Ripple

Earlier this week, a federal judge ordered a case against Ripple and its CEO Bradley Garlinghouse be consolidated with a class action led by Bradley

Chase Sapphire Reserve renewals will stay at $450 through the end of year

Heads up! We share savvy shopping and personal finance tips to put extra cash in your wallet. Android Central may receive a commission from The Points Guy Affiliate Network. Please note that the offers mentioned below are subject to change at any time and some may no longer be available. In the midst of the uncertainty caused by the novel coronavirus, Chase appears to want to keep its...

Chase adds limited-time Sapphire benefits to help grounded travelers

Heads up! We share savvy shopping and personal finance tips to put extra cash in your wallet. Android Central may receive a commission from The Points Guy Affiliate Network. Please note that the offers mentioned below are subject to change at any time and some may no longer be available. While some TPG readers are considering booking trips down the line — in some cases, even this...

Brazil GDP contracts 1.5pc in Q1 due to pandemic

RIO DE JANEIRO, May 29 — Brazil’s economy — Latin America’s largest — contracted by 1.5 per cent in the first quarter due to the shutdown triggered by the coronavirus pandemic, the government reported today. But the contraction reflects only the early effects of the pandemic because...

Brazil GDP shrinks 1.5% in Q1 2020 due to pandemic

The 1st quarter drop in Brazil's gross domestic product only reflects the early effects of the coronavirus crisis, with 2nd quarter numbers expected to be much worse

Learning From The Ups And Downs Of The Stock Market

Thus far in 2020, the stock market has experienced daily moves of 1.5% or more (up or down) 43% of the time. Of the 100 trading days thus far in 2020, 53 have b

Bears Trade By Day, Bulls By Night

Stock market returns for the month of May have been an overnight phenomenon. Fed liquidity is the only thing fueling this fundamental-less rally. Consensus earn

Council Approves City Recovery Fund

Wellington City Council has adopted a framework to manage the new Tipu Toa: Build back better, City Recovery Fund.

$7.6m fund for city events and initiatives after lockdown

Press Release – Wellington City Council The Wellington City Council has adopted a framework to manage the new Tipu Toa: Build back better City Recovery Fund. The Fund was established at the Council meeting of 9 April as part of the Pandemic Response Plan. Its purpose is to support initiatives that will contribute to Wellington’s post Covid-19 economic recovery.

SPECIAL REPORT: Oil prices volatility deflates Nigeria’s GDP

THE Nigerian economy has been facing challenges for the past five years following its over dependence on oil as a major source

Q4 GDP reveals a sorry picture even before the onset of lockdown

With the coronavirus dragging the world economy into a recession, the Indian economy needs a more convincing stimulus than what has been unveiled so far

Global champagne sales fizzle amid coronavirus pandemic because people aren't celebrating

Now this is just cham-painful.

Report: Worldwide Alcohol Sales Won’t Rebound Until 2024

The global coronavirus pandemic may have initially caused a spike in U.S. alcohol sales at off-premise retail stores, but the long-term impact of decreased travel and on-premise closures could set the global booze business back five years, according to a new report from research firm IWSR.

Australia faces further cost-cutting despite improved outlook

Australian cricket faces another round of cost-cutting to shore up finances hit by the coronavirus shutdown and no part of the game will be ...

Australia cricket faces further cost-cutting despite improved outlook

Australian cricket faces another round of cost-cutting to shore up finances hit by the coronavirus shutdown and no part of the game will be immune, board chief Kevin Roberts said on Friday. Cricket

Goa CM Pramod Sawant bats for lockdown extension; wants malls, gyms to open

The chief minister said Goa will pitch for relaxations like allowing reopening of malls, restaurants and gyms in the state during the lockdown period.

Goa CM bats for lockdown extension; wants malls, gyms to open

Goa Chief Minister Pramod Sawant on Friday said the current phase of lockdown, slated to end on May 31, should be extended till June 15 considering the overall COVID-19 scenario in the country, where the case count has crossed the 1.6 lakh-mark. Sawant, who spoke to Union Home Minister Amit Shah