Markets
Lufthansa Group plans to resume flight services to India in June #85602
In total, the group will offer 63 weekly departures from the start of next month. The SWISS , Eurowings and Brussels Airlines subsidiaries are also restoring some flights. Lufthansa isn't the only global airline planning on adding flights over the next few weeks. " A resumption of service in June is being considered ", the carrier said. [Full Article...]
United Kingdom says 110000 applied for self-employed income scheme after launch
Profits, based on an average of the last three years, must be no more than £50,000, and at least equal to any non-trading income, such as employment income, dividends or rental income. But income is only calculated from the 2018-19 tax year backwards, meaning thousands of newly self-employed people are not eligible. It has been rolled out several weeks ahead of schedule. [Full Article...]
Trudeau hopes government can help Air Canada following announcement of layoffs
Air Canada said business is down 95 per cent because of the COVID-19 pandemic and "normal traffic levels" aren't expected to return any time soon. The Montreal-based company had laid off more than 16,500 employees by the end of March before announcing in early April that it meant to rehire them thanks to a wage subsidy program put in place by the government of Prime Minister Justin Trudeau .... [Full Article...]
China's April industrial output rises faster than expected
The central bank has pledged to step up policy measures to support the economy , although it still cautioned against property bubble risks. China's economy contracted 6.8% in the first quarter from a year earlier, shrinking for the first time since at least 1992. [Full Article...]
Tesla could launch a million-mile battery this year
Citing sources familiar with the plans, Reuters reported Thursday that Tesla and Chinese battery supplier CATL have developed a low-priced battery capable of lasting a million miles. Finally, Tesla reportedly plans to use a highly automated battery manufacturing process to cut labor costs and increase production. It also shines a brighter light on Tesla planning its battery cell production ... [Full Article...]
Google facing onslaught of antitrust cases in U.S.
State attorneys general are also investigating the company. The Justice Department did not immediately reply to a request for comment. According to a report from the Wall Street Journal , officials at the Justice Department and a group of state attorneys general are focused on Google's ad business and how it has used its search monopoly. [Full Article...]
Sensex slips over 100 points in opening deals, Nifty near 9,100-mark
M&M was the top laggard in the Sensex pack, cracking over 3 percent, followed by Maruti, HCL Tech, Hero MotoCorp, Axis Bank, ICICI Bank, ITC and HDFC Bank. Other Asian indices such as Hang Seng, Nikkei and KOSPI also closed in red, down by 1.45 per cent, 1.74 per cent and 0.80 per cent, respectively. Nifty Bank , Auto, Media, Private Bank and Pharma sector gauges also fell around a per cent eac... [Full Article...]
Takeaways From Nirmala Sitharaman's Announcements For Defence, Aviation
FM Sitharaman had earlier said the announcements will be made in tranches. Finance Minister Nirmala Sitharaman told media persons that India's start-up ecosystem will be linked with to nuclear sector and technology development cum incubation centres will be set up for fostering synergy between research facilities and tech-entrepreneurs. [Full Article...]