Markets
Oil prices down with rising coronavirus cases worldwide
Brent crude futures fell 26 cents to $43.11 a barrel by 0822 GMT. American benchmark West Texas Intermediate ( WTI ) was at $40.70 a barrel at the same time for a 0.12% decline after ending the previous session at $40.75 per barrel with a 1.1% daily decline. [Full Article...]
Apple wins European Union court battle over 13-bln-euro tax order
Apple says the profits in question were always meant to go to the U.S. where they were eventually transferred after a tax reform there. The Irish Department of Finance said Wednesday that it welcomed the appeals court's decision. "If we had a proper corporate tax system, we wouldn't need long court cases to find out whether it is legal for multinational corporations to pay less than 1% in... [Full Article...]
First monthly trade surplus after 18 years
AgenciesDuring April-June 2020, exports fell by 36.71 per cent to Dollars 51.32 billion, while imports shrank by 52.43 per cent to USD 60.44 billion. Imports of key contributors to India's trade balance - petroleum , gold and electronics, declined. [Full Article...]
649,000 UK Workers Lost Their Jobs Between March and June
A survey of 7,400 firms by the British Chambers of Commerce revealed that almost a third of businesses expect to decrease the size of their workforce in the next three months while 28 percent of those surveyed already cut jobs in the second quarter. [Full Article...]
More than 1M Americans seek unemployment benefits as companies cut more jobs
All in all, the government has processed nearly 57 million new claims for jobless benefits since the middle of March. And it is still almost double the 665,000 weekly claims filed at the worst point during the Great Recession in 2009. Meanwhile, Florida - another state contending with a resurgence in coronavirus cases - saw new claims almost double last week to 129,408. It did not immediately ... [Full Article...]
The drop in inflation has taken analysts by surprise - 16-Jul
Low oil prices drove New Zealand's consumer price inflation down by 0.5 per cent over the June quarter, making for a modest 1.5 per cent gain over the June year. In fuel and power basket, deflation stood at 13.60 per cent in June, against 19.83 per cent in the previous month. The UK's online fashion retailer, ASOS, stated on Wednesday that during the four months up till June 30, sales rose by 10... [Full Article...]
Wednesday's Lackluster Performance Leads to Early US Stock Market Weakness
They also sent the Nasdaq composite, which set a record last week, to a larger loss than other indexes. The three main U.S. stock indexes have recouped most of their losses from the coronavirus-led slump, with a raft of stimulus measures and encouraging economic data lifting the S&P 500 to within 5 per cent of its record high hit in February. [Full Article...]
Ottawa announces $19-billion in COVID-19 support for provinces and territories
Trudeau previously pledged $14 billion but many premiers said that amount was not almost enough to cover their needs. Money will be set aside for child care spaces and paid sick leave for workers who now do not have access to 10 days. Canada's largest city, Toronto, has reported that it's facing a $1.35-billion deficit this year. She says a senior official at the department of Employment and... [Full Article...]