Saturday, 31 October 2020

UK Extends 80% Wage Subsidies As England Goes Back Into Lockdown

Britain's government will extend by a month its costly coronavirus wage subsidies to ensure workers who are temporarily laid off receive 80% of their pay, Prime Minister Boris Johnson said on Saturday as he announced a new Englandwide lockdown.

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ICICI Bank Quarter 2 Net Profit Rises Over 6-folds to Rs 4,251 Crore

The bank had posted a net profit of Rs 655 crore during the same period of the previous fiscal year.</p>

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Relaxo Footwears Quarter 2 Profit Up by 6.5% at Rs 75.10 Crore

It had posted a net profit of Rs 70.54 crore in the July-September quarter last fiscal, Relaxo Footwears said in a regulatory filing.</p>

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The Great Divergence: U.S. COVID-19 Economy Has Delivered Luxury Houses For Some, Evictions For Others

When the temperature dipped near freezing in Columbus, Ohio in midOctober, the children had no heat. The gas had been shut off in their apartment for nonpayment. DaMir Coleman, 8, and his brother, KyMir, 4, warmed themselves in front of the electric oven.

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ED Arrests Man Under PMLA in Rs 750 Cr Bank Loan Fraud

The PMLA case was filed against them after studying an FIR registered by the economic offences wing (EOW) of the Delhi Police on the basis of a complaint received from Hassad Netherlands BV.

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Goa Govt to Sell Onions to Ration Card Holders at Rs 32 Per Kg

The state cabinet had on Wednesday approved a proposal to provide onions at a subsidised rate after the price of the commodity increased substantially.

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$1.2 Bn Damage Order Against Antrix Corporation Was Issued by Lower Court in US: Key Official

According to reports reaching here, the US District Court, Western District of Washington ordered Antrix to compensate Devas to the extent of $562.5 million coupled with the interest rate the total damages comes to about $1.2 billion.

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Airport Transfer Blacklane Bets On Intercity Trips To Revive COVID-hit Business

German chauffeur service Blacklane, specialised in airport transfers, is looking to tap into demand for relatively safe intercity travel to grow revenue hit by COVID19 which also derailed its plans for a 2022 stock market listing.

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China Suspends Imports From Ecuadorian Company After Coronavirus Found On Seafood Packaging

China suspended imports from FIREXPA S.A., an Ecuadorian seafood product manufacturer, after the novel coronavirus was found on the packaging of a batch of imported frozen fish, according to a notice by the General Administration of Customs.

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Friday, 30 October 2020

AP Govt's Borrowings for First Half of 2020-21 Fiscal Far Exceeded Revenues, Says CAG Report

The revenue accruals, on the other hand, were just 27.73 per cent at Rs 44,915.52 crore in the first half out of the targeted Rs 1,61,958.50 crore for the year.

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Nigeria Reaches Out To U.S., South Korea To Back WTO Candidate

Nigeria is reaching out to the United States and South Korea to persuade them to back its pick to head the World Trade Organization, the trade ministry said on Friday, after the candidate's lastminute rejection threw the selection process into confusion.

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Exclusive: Italian Payments Firm Nexi Leads Race For $10 Billion Nets Takeover - Sources

Italian payments technology firm Nexi is leading negotiations to buy Nordic rival Nets in an allstock deal worth about $10 billion after trumping competition from U.S. firm Global Payments, four sources told Reuters.

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Delta Air Lines CFO Jacobson To Resign, Join GM As Finance Head

Delta Air Lines said on Friday Chief Financial Officer Paul Jacobson would resign from his position, effective Nov. 15, to join General Motors as CFO.

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Walmart Begins Returning Firearms, Ammunition To U.S. Store Floors

Walmart Inc said on Friday it has begun returning firearms and ammunitions to the floors of its U.S. stores a day after the world's largest retailer said it had removed these products.

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SEBI Imposes Rs 2 Lakh Fine on Titan Company Employee for Violating Insider Trading Norms

The investigation by the capital markets regulator found that the designated employee of the company and his spouse had traded in the scrip of Titan when the trading window was closed, in violation of SEBI (PIT) Regulations, 2015.

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Lifted By U.S., Mexico Economy Rebounds 12% In Third Quarter From Coronavirus

Mexico's economy grew 12.0% during the third quarter, largely as expected, making up for much of the record contraction over the previous three months at the height of the coronavirus lockdown, preliminary data showed on Friday.

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Meatpacker JBS To Seek Damages From Founders After Brazil Shareholder Vote

Shareholders in JBS SA on Friday cleared the way for the Brazilian food processor to sue its own controlling stakeholders and certain former managers, a rare victory for shareholder activism in Latin America's largest economy.

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U.S. CDC Issues Framework For Resumption Of Cruise Ship Operations

The Centers for Disease Control and Prevention (CDC) on Friday issued a framework for a phased resumption of cruise ship operations after a nosail order issued in March in response to the coronavirus pandemic expires on Saturday.

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Qualcomm, FedEx, Auto Executives To Propose Transport Policies For World In Transition

A group of business leaders and public policy experts is launching a new body to grapple with thorny questions surrounding the future of transportation including selfdriving and electric vehicles.

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Argentina Oilseed Strike Cut Short After Government Steps In; New Talks Planned

Argentina's main oilseed crushers union cut short a 24hour strike late on Friday after government intervention ordering workers and companies back to the negotiating table to reach a deal over coronavirus pandemic bonus payments.

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Nestle Buys U.S. Meal Delivery Group Freshly

Food group Nestle on Friday said it had bought U.S. meal delivery company Freshly in a deal valuing it at $950 million, with further potential payments or "earnouts" of up to $550 million.

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Arby's And Buffalo Wild Wings Owner Buying Dunkin' Brands

Dunkin doughnuts and coffee is being combined with Buffalo Wild Wings and Arby's sandwiches.

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Big Tech Stocks May Face Tougher Slog Due to US Presidential Polls, No Matter Who Wins

Betting against big technology has been a risky proposition over the last decade, as stocks like Amazon, Google and Netflix have shot higher at the expense of so-called value and cyclical stocks such as banks and energy companies.

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Disney World To Lay Off 11,000 Amid Pandemic

Orlando (US) (AP) Walt Disney World says it plans to lay off more than 11,000 unionized workers because of the new coronavirus, bringing the total number of pandemic-related job casualties at the Florida resort to almost 18,000 positions. Disney World said in a letter to state and local leaders Thursday that the 11,350 union workers mostly part-timers will be laid off at the end of the year. Company officials previously had said that another 6,400 nonunion Disney employees in Florida would lose their jobs..

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HPCL Shares Surge over 5 Percent After Firm's Buyback Plan

HPCL is now trading at 21.5 per cent up from its 52-week low of Rs 150 a piece. The total market capitalisation of the firm has reached Rs 28,716 crore. It is, however, still far below its value at this time last year, which stood over Rs 320 a piece.

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Thursday, 29 October 2020

Penny-pincher Or Deal King? Arnault Gets His Discount In Tiffany Takeover

In the world of corporate mega mergers, a $425 million discount on a $16 billion deal is small change.

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Activision Raises Sales Forecast On Lockdown Demand, New COD Release Hopes

Activision Blizzard Inc raised its annual adjusted sales forecast on Thursday, betting on strong sales for its upcoming videogame in the blockbuster "Call of Duty" franchise as demand from stayathome gamers continues to rise.

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Coronavirus, Consolidation Taking Toll On Energy Jobs

Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.

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Thanksgiving Feast Or Famine? Turkey Industry Left To Guess

For the turkey industry, this Thanksgiving is a guessing game.

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Sensex Jumps Over 200 Points in Early Trade; Nifty Tops 11,700

Exchange data showed that foreign institutional investors sold equities worth Rs 420.95 crore on a net basis on Thursday.

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Thwart U.S. Veto Or Await New President? WTO Has Leadership Dilemma

Faced with a veto from the United States, the World Trade Organization has two unpalatable options for selecting its next leader override its biggest paymaster with a vote or hope for a change of U.S. president and wait until he takes charge.

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Gold Price Drops While Silver Gains; Check Prices in Tier-1 Cities

In Mumbai, gold prices are the same as the national average. 22-carat gold stands at Rs 49,680 per 10 grams and 24-carat gold is at Rs 50,680 per 10 grams.

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Brazil Prosecutors File Appeal Against BHP, Vale Dam Compensation Deal

Brazilian federal prosecutors on Thursday filed a lawsuit contesting a compensation package for victims from a 2015 collapsed dam jointly owned by mining giants BHP and Vale , arguing that the package is far too low.

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U.S. Seizes Iranian Missiles, Slaps Iran-related Sanctions On 11 Entities

The United States revealed on Thursday it had seized Iranian missiles shipped to Yemen and sold 1.1 million barrels of previously seized Iranian oil that was bound for Venezuela, in the Trump administration's latest move to increase pressure on Tehran less than a week before Nov. 3 election.

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'Significant Uncertainty': Facebook Warns of Tougher 2021 Despite Boost in Ad Revenue Amid Covid-19

Facbook said in its outlook that it faced “a significant amount of uncertainty,” citing impending privacy changes by Apple and a possible reversal in the shift to online commerce that was prompted by the pandemic.

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Asian Shares Look For Rebound Following Tech Earnings

Asian markets looked to continue an upward swing on Friday, after a rebound in U.S. equities and strong corporate earnings set the stage.

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US OKs Extradition Of 2 Nabbed In Ex-Nissan Boss' Escape

Boston (AP) The US State Department has agreed to turn over to Japan two American men accused of smuggling former Nissan Motor Co Chairman Carlos Ghosn out of the country while he was awaiting trial, the men's lawyers said in court documents Thursday. A federal judge intervened to block the immediate removal of Michael Taylor, a US Army Special Forces veteran, and his son Peter Taylor, letting them stay in Massachusetts while she reviews an emergency petition filed by their lawyers..

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Apple Temporarily Closes 17 Out Of 20 French Stores Amid Fresh Lockdown

Apple Inc will temporarily close 17 of its 20 stores in France from Oct. 30, as the country goes into a fresh onemonth lockdown due to a resurgence of coronavirus cases, the company's website showed.

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Amazon Sees Pandemic Boosting Holiday Sales And Investment In Delivery

Amazon.com Inc on Thursday forecast a jump in holiday sales and costs related to COVID19 as consumers continued to shop more online during the pandemic.

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Wall Street Rebounds Ahead Of Tech Earnings, Upbeat U.S. Data Helps

U.S. stocks advanced on Thursday as investors piled into technology heavyweights ahead of their earnings reports, while upbeat domestic economic data calmed widespread concerns about surging coronavirus cases.

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E-cigarette Maker Juul Cuts Valuation To $10 Billion - Memo

Juul Labs Inc has cut its valuation to about $10 billion from $12 billion at the end of last year, according to a company memo seen by Reuters on Thursday, as the once redhot ecigarette maker fizzles in a tumultuous period for the industry.

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Oil Falls On Lockdown Angst, Stocks Rise To Pare Weekly Loss

Crude oil fell again on Thursday as lockdowns in Europe and rising cases elsewhere clouded the demand outlook, while stocks rose as Wall Street rallied.

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Alphabet Sales Growth Back As Google Key For Advertisers

Google parent Alphabet Inc returned to sales growth in the third quarter as businesses initially hobbled by the coronavirus pandemic resumed advertising with the internet's biggest supplier of ads, the tech giant said on Thursday.

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Twitter Beats Revenue Expectations But Misses On User Growth

Twitter Inc on Thursday widely beat analyst expectations for quarterly revenue as ad sales rose with the return of sports and other events, but it added fewer users than Wall Street had expected.

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Starbucks Sees Hotter-than-expected Earnings For 2021

Starbucks Corp forecast 2021 earnings largely above estimates on Thursday, helped by strong online orders and a recovery in demand following the initial hit from the COVID19 pandemic.

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Twitter Warns U.S. Election Could Affect Ad Sales, Shares Drop 16%

Twitter Inc on Thursday added fewer users than Wall Street had expected and said a rise in expenses would accelerate in the fourth quarter, sending its shares tumbling 16%.

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Tech Earnings Tsunami Buoys Alphabet, Sinks Apple

Alphabet rallied, Apple sank and Twitter tumbled on Thursday after a mixed bag of quarterly reports from toptier technology companies that investors have relied on this year to power a stock market rally through the coronavirus pandemic.

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AB InBev Beer Sales Recover, But Interim Dividend Scrapped

AnheuserBusch InBev, the world's largest brewer, reported a surprise increase in beer sales in the third quarter, although profits dipped and its interim dividend payment was scrapped due to the COVID19 pandemic.

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Wednesday, 28 October 2020

Next Crop Of COVID-19 Vaccine Developers Take More Traditional Route

The handful of drugmakers dominating the global coronavirus vaccine race are pushing the boundaries of vaccine technology. The next crop under development feature more conventional, proven designs.

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BOJ Cuts Growth Forecast But Flags Policy Pause On Recovery Prospects

The Bank of Japan on Thursday trimmed its economic and price forecasts for the current fiscal year but offered a more upbeat view on the recovery outlook, signalling that it has delivered enough stimulus for the time being.

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Beyond Borders: The True Origins Of India's Favorite Brands - Colgate, Bata And Maruti

Bata grew into one of the world's leading shoemakers, with an impressive annual sale of 150 million pairs of shoes across more than 70 c...