Markets
Supercar wrecked in motorway crash 20 minutes into first trip
The new brand Lamborghini Huracan Spydar worth £200,000 was hit by another road user after the owner of the luxurious vehicle was handed the keys. The Lamborghini was hit from behind by a van after stopping in the outside lane because of a "mechanical failure", West Yorkshire Police said. The injuries are not believed to be serious. [Full Article...]
U.S. sent most virus stimulus checks to deceased citizens
The Government Accountability Office , which is the auditing arm of Congress, found the IRS failed to use death records for the first three batches of payments that were sent out. Representative James Clyburn of SC, chairman of the House Select Subcommittee on the Coronavirus Crisis, said in his opening statement he's "pleased that the SBA is finally showing some willingness to obey the law",... [Full Article...]
Walmart gives Minnesota workers bonuses worth $5M for working during coronavirus pandemic
It has awarded $300 to full-time hourly employees and drivers, $150 to part-time hourly and temporary workers, as well as $400 to assistant managers. Walmart employees in NY state will be awarded $8.7 million in cash bonuses on Friday. "All across the country, they're providing Americans with the food, medicine and supplies they need, while going above and beyond the normal scope of their jobs... [Full Article...]
Futures Tumble as Banks Fail Stress Tests
Overseas, in Tokyo, the Nikkei 225 let go of 1.2% Thursday, while in Hong Kong, markets were shuttered for holiday. Texas Governor Greg Abbott said he was halting his state's phased economic reopening in response to a jump in COVID-19 infections and hospitalizations. [Full Article...]
Amazon Reportedly Buys Self-Driving Startup Zoox For Over $1.2 Billion
According to the Financial Times and The Information , Amazon is moving into the self-driving auto business with the acquisition of Zoox. Zoox will continue to exist as a standalone business according to Amazon's announcement, with current CEO Aicha Evans continuing in her role, as well as CTO and co-founder Jesse Levinson. [Full Article...]
Germany's Lufthansa gets massive $10B bailout to keep it flying
Shares in the company, which employs around 138,000 people, closed 7.1% higher, having risen strongly earlier after top shareholder Heinz Hermann Thiele dropped objections to the deal. In Lufthansa's tweet, CEO Carsten Spohr said that Thursday's decision "ensures outlook for the future". Lufthansa has been brought to its knees by COVID-19 and what promises to be a protracted travel slump, and ... [Full Article...]
Facebook Announces Permanent Work from Home Option for Employees
The company's new set of plans comes days after the company chose to begin work in San Francisco Bay Area in a limited fashion. We will keep our offices closed until 2021 so that we can rework them for this new reality. In addition, Facebook wants to ramp up employment from places surrounding its existing offices including cities like San Diego, Portland, Philadelphia and Pittsburgh. [Full Article...]
Gold falls Rs 57, silver prices tumble Rs 477
Gold prices (XAU/USD) have gained over 5% in the past two weeks after setting a 6-week low near the $1,670 mark on June 05. "Spot gold prices for 24 carat in Delhi were trading down by ₹ 57 with weak global gold prices and rupee appreciation", HDFC Securities Senior Analyst (Commodities) Tapan Patel said . [Full Article...]