Markets
FTC says Amazon took US$62 million in tips from drivers
Amazon diverted nearly a third of customer tips to driver wages, stopping the practice only after becoming aware of the FTC probe in August 2019, the agency said. The complaint charges that Amazon executives chose not to alter the practice, instead, viewing drivers' complaints as a "PR risk", which they sought to contain" /p p In a closing comment which might provide insight into Chopra's philos... [Full Article...]
Oil breaks out to the highest in a year. What's next
Firstly, most analysts expect winter demand to be higher than usual in the United States amid one of the worst snowstorms to hit the North East region in years. "A positive start", said one OPEC delegate. The Democratic-led U.S. House of Representatives prepared to take the first step forward on President Joe Biden's $1.9 trillion COVID-19 relief package. [Full Article...]
Government cuts import duty on gold, silver
In Indian markets, on MCX, silver prices crashed 4% or ₹3,000 to ₹70,835 per kg, following a ₹7,000 surge in past three sessions. A top official of US Commodity Futures Trading Commission (CFTC) on Monday said the agency is "closely monitoring" recent activity in silver markets, as volatility in equity markets spilled into trading of the precious metal. [Full Article...]
Dalal street`s big thumbs up! Sensex reclaims 50,000 over Budget euphoria
Around 9.35 a.m., Sensex was trading at 50,004.06, higher by 1,403.45 points or 2.89 per cent from its previous close of 48,600.61. Tracking the extremely positive investor sentiment, the market capitalisation of BSE-listed companies jumped Rs 10,48,253.99 crore to Rs 1,96,60,898.02 crore in two days of market rally. [Full Article...]
Indigo Paints Makes Stellar Stock Market Debut, Lists At Premium Of 75%
The stock listed at ₹2607, which is at a 75% premium to the set price band at ₹1,488-1,490 per share. The share later fell on profit-booking and touched day's low at Rs 2,428.20 and Rs 2,436.05 on BSE and NSE, respectively. Shares in Indigo Paints Ltd jumped 84 per cent in their market debut on Tuesday after a bumper response to the paint maker's $160 million initial public offering (IPO) last m... [Full Article...]
BP sells Oman gas stake to PTTEP
Under Looney, who took over the reins at BP a year ago as the pandemic began taking hold worldwide, the group is looking to raise US$25 billion from asset sales by 2025. The investment "will further strengthen PTTEP's foothold in Oman in the long run and pave the way for future investments in the Middle East", said CEO Phongsthorn Thavisin. [Full Article...]
8th COVID-19 death linked to Prairie Lake Supportive Living outbreak
Currently, there are 298 active alerts or outbreaks in Alberta schools which is about 12%. Indigenous Services Canada reports that the rate of cases of COVID-19 in First Nations reserves is 40 per cent higher than the rate in the general Canadian population, as of January 19. [Full Article...]
ExxonMobil, Chevron reportedly discussed merger past year
ExxonMobil CEO Darren Woods and Chevron's chief executive, Mike Wirth, held talks at some point in 2020 following the outbreak of the coronavirus disease pandemic , which led to a decline in demand for oil as border restrictions created a significant fall in worldwide travel, the newspaper said . [Full Article...]