Markets
Queen Elizabeth talks bushfires and coronavirus in phone call to Scott Morrison
One million, or more, are accessing their own super, of nearly $10m. Porter said there are already requirements in place for employers to provide safe workplaces, but noted they will need to introduce new measures to incorporate social distancing, hygiene, personal protective equipment and cleaning rules. [Full Article...]
Council workers can apply for furlough, say ministers
There are some concerns over the cost of the programme, with the latest government figures showing 6.3 million people are having up to 80% of their salaries paid by the Treasury at a cost of £8 billion. The scheme which sees the Government pay 80 per cent of your wages if your company does not need, or can not afford for you to work, is to end next month. [Full Article...]
With inflation devastating the currency, Iran is changing names and numbers
In Late July a year ago, Iranian cabinet approved a bill proposed by the CBI for eliminating four zeroes from the national currency, and changing the national currency from rial to toman . The Iranian currency was trading at about 156,000 rials per dollar on the unofficial market on Monday, according to foreign exchange websites. The economic crisis forced Iran's leaders to reconsider their stu... [Full Article...]
Amazon VP Quits After Company Fires Employees Worried About COVID-19
Tim Bray, a vice president and distinguished engineer at Amazon Web Services (AWS), had been with the company for more than five years after working with Google and Sun. The former company executive pointed out that the e-commerce giant, while a formidable power in the US, has been reined in elsewhere. Amazon has yet to comment on the matter. [Full Article...]
European Union expects Slovakia to enter a deep recession this year
Spain's deficit will just exceed 10% this year, up from 2.8% in 2019 and France will be close behind with a budget gap of 9.9% this year. The coronavirus pandemic threatens the future of the eurozone by creating huge economic divisions between its 19-member states during what is expected to be the deepest recession since the Great Depression, the European commission has warned. [Full Article...]
Norwegian Cruise Line says cash crunch poses 'going concern' risk
News reports that on Monday the company announced that select North American cruises would go back online beginning August 1, with eight ships leaving ports in Miami and Port Canaveral, Florida, and Galveston, Texas. The resumption of service will feature only eight ships in the line's 27-ship fleet, including Carnival Breeze and Carnival Elation out of Port Canaveral. [Full Article...]
Airbnb to slash 25% of workforce as coronavirus crisis bites
In a memo to staff today, CEO Brian Chesky said the company's 2020 revenue is expected to be less than half of what it was past year, and that despite a recent capital infusion of $2 billion, Airbnb would need to reduce its investment in areas of its business that "do not directly support the core of our host community". [Full Article...]
What are Bounce Back Loans and how do I apply?
Although, if you've already received a loan of up to £50,000 under CBILS and would like to transfer it into the Scheme, you can arrange this with your lender until 4 November 2020 . "Banks with under $10 billion in assets approved about 60% of loans in the first round of the Paycheck Protection Program ". However, the expectation is that because of the simplicity of the process, banks will trans... [Full Article...]