Markets
Virgin to cut 750 jobs after full-year loss of $349m
Virgin Australia's group CEO and managing director, Paul Scurrah, said: "I've been reviewing the structure of the organisation since I joined the group in March with a view to simplify the current structure which has grown overly complex over time". [Full Article...]
Foreign Investment Allowed In Digital Media With 26 Per Cent Cap
Earlier, they had to set up a brick and mortar store before selling online. While 30 per cent local sourcing remains a mandatory condition for single-brand retail, the government has now agreed to a long-standing industry demand to make things easier for foreign retailers. [Full Article...]
Oil prices pegged back by mounting concern over U.S. economy
Government data on Wednesday showed US crude stocks dropped last week by 10 million barrels to their lowest since October as imports slowed, while gasoline and distillate stocks each fell by over 2 million barrels. Futures in NY climbed as much as 1.2% after rallying nearly 4% over the previous two sessions. The dollar rallied as Prime Minister Boris Johnson moved to suspend Britain's parliame... [Full Article...]
BBOXX Raises $50M in Series D Funding
Almost one in three people don't get proper electricity. Other participants in the funding round include Engie Rassembleurs d'Energies, Luxembourg-based pioneering impact investor Bamboo Capital Partners, Dutch impact investment fund DOEN Participaties and Montreal-based growth equity firm MacKinnon, Bennett & Company (MKB). [Full Article...]
China trade talks planned today 'at a different level'
Trump said talks have been ongoing, telling Kilmeade , "We have been talking, we continue to talk". Pat Toomey, an outspoken critic of Trump's tariffs, told Politico in a story published Thursday that "there's no question" the President's trade war is weighing on the economy. [Full Article...]
Former Volkswagen chairman Ferdinand Piech has died -Bild
Piech, the grandson of sports auto and VW Beetle pioneer Ferdinand Porsche , died on Sunday in Rosenheim, Bavaria, his wife said. He then became the company's supervisory board chief - a post in which he wielded unusual influence. Ignore the shared platforms, drivetrains and components; the cross-brand family of models that almost take badge engineering a step too far, and instead consider what P... [Full Article...]
KFC promises new plant-based nuggets 'taste like chicken'
Right now, fried chicken is being met with the same hype associated with a new tech product. In June, KFC sold a standard chicken burger made using Quorn in place of meat. For starters, eating chicken is far healthier than consuming red meat, which is to say, the marketplace for a chicken different may be inherently smaller. [Full Article...]
China's central bank to issue own cryptocurrency as soon as November
The People's Bank of China (PBoC) called the coverages "inaccurate speculation", clarifying that it is not in the process of launching a bitcoin-like token in coming months. With the strategic distribution of the digital coins, the central bank is also looking to circulate it to the United States buyers using the banks' global ties. [Full Article...]