BERLIN (AP) – Record daily infection figures in Germany, the Czech Republic, Italy and elsewhere added to fears on Thursday that Europe is running out of chances to control its latest coronavirus outbreak. France has set a 9 p.m. curfew for many of its biggest cities as governments across the continent take increasingly tough action. … Read more German, Czech, Italian virus records deepen Europe worries
Wells Fargo says it’s fired workers who bilked a federal coronavirus relief program. A source tells CBS News 100 to 125 workers were shown the door. David Galloreese, head of the bank’s Human Resources department, said in an internal memo provided to CBS News that the workers “defrauded” the Small Business Administration’s Economic Injury Disaster … Read more Wells Fargo fires dozens for alleged abuse of COVID relief program
“A very powerful electric performance automobile is less efficient than a hyper-efficient E.V. but still far cleaner than a comparably powerful car that burns gasoline,” Mr. Reichmuth said in a telephone interview. He added that a Model S driven in California, which has some of the nation’s cleanest electrical power, is about equivalent to a … Read more How Green Is That Electric Car? And When It Hits 100 M.P.H.?
The crowd was growing impatient as Crystal Holmes fumbled with the keys to the store. Dozens of people were swarming the street around Western Beauty Supply, the Chicago shop where Ms. Holmes works. She had persuaded some of them to let her open the store so they could rob it without breaking the windows. “She’s … Read more Black Products. Black Shoppers. Black Workers. But Who Owns the Store?
The ‘small scale’ measure reflects the country has ‘limited budgetary firepower to support the economy,’ says the rating agency The government’s latest fiscal stimulus measures will have a minimal impact on India’s growth prospects, rating agency Moody’s Investor Services said on Thursday, stressing that their ‘small scale’ is actually a credit negative as it reflects … Read more Latest stimulus to have minimal impact on growth, a credit negative: Moody’s
Pub chain Marston’s is making 2,150 furloughed workers redundant after the government announced new coronavirus restrictions. The pub and brewery group blamed recent measures to tackle a surge in Covid-19 cases, including a 10pm curfew for hospitality venues and a three-tier lockdown that means sites not serving food must close in high-risk areas. The company, … Read more Pub chain Marston’s cuts 2,150 jobs, blaming government coronavirus restrictions
BEIJING (AP) – Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. Benchmarks in Tokyo, Hong Kong and Seoul declined. Shanghai advanced. Wall Street’s benchmark S&P; 500 index dropped 0.7% on Wednesday after Treasury Secretary Steven Mnuchin said … Read more Asian stocks follow Wall St lower as stimulus hopes fade
Want this delivered to your inbox each day? Sign up here. These days, nothing goes without saying Tech, finance, media and other executives are calling on Americans to stay cool during a heated election season. “The health of our economy and markets depends on the strength of our democracy,” the LinkedIn co-founder Reid Hoffman said … Read more Business Leaders Speak Out on Election Integrity
India’s public debt ratio, which remarkably remained stable at about 70% of the GDP since 1991, is projected to jump by 17 percentage points to almost 90% because of an increase in public spending due to COVID-19, the IMF said. “In our projections, the increase in public spending, in response to COVID-19, and the fall … Read more ‘Public debt ratio to rise to 90% of GDP on Covid’
Heineken-owned pub group Star Pubs has been fined £2 million for allegedly forcing tenants to sell “unreasonable levels” of its own alcohol. Investigators discovered that Star had continued to impose its own Heineken beers and ciders on pub managers when they asked to go free of their ties with the brewer, despite repeated interventions by … Read more Heineken firm Star Pubs fined £2m for forcing tenants to sell their alcohol
DUBAI, United Arab Emirates (AP) – U.S. diplomats and security officials privately warned the state of Nevada not to use Chinese-made coronavirus test kits donated by the United Arab Emirates over concerns about patient privacy, test accuracy and Chinese government involvement, documents obtained by The Associated Press show. The documents illustrate how the U.S. government … Read more US warned Nevada not to use Chinese COVID tests from UAE
Treasury Secretary Steven Mnuchin said on Wednesday that he did not expect an economic relief package to be enacted before the Nov. 3 election, as he and Speaker Nancy Pelosi of California have continued to struggle to reach an agreement on a broad package to support the economy. Negotiators on Wednesday resumed discussions over a … Read more Mnuchin says he does not expect a stimulus bill before the election.
The world is experiencing one of the deepest recessions since the Great Depression in the 1930s owing to the novel coronavirus, World Bank President David Malpass has said, terming the COVID-19 pandemic a “catastrophic event” for many developing and the poorest countries. He told reporters that given the extent of the economic contraction, there was … Read more World experiencing one of the deepest recessions since Great Depression due to COVID-19: World Bank
SAN FRANCISCO (AP) – More than 50,000 utility customers were without power and others around California were urged to conserve electricity Thursday in the midst of a fall heat wave that brought another round of extreme wildfire danger. The National Weather Service issued heat advisories through Friday for temperatures in the 90s and even triple … Read more California heat wave prompts power shutdowns, fire danger
FRANKFURT — Berkshire Hathaway may have found a way to get back some of the hundreds of millions of dollars it lost after buying a seemingly solid German pipe maker that turned out to be on the verge of going bust. The conglomerate, led by Warren E. Buffett, is suing Jones Day, the law firm … Read more Berkshire Hathaway Says Blue Chip Law Firm Aided Fraud
BEIJING (AP) – A hospital president and the director of the health commission in the northern Chinese city of Qingdao have been fired after China’s latest coronavirus outbreak, authorities said Thursday. A brief notice on the Qingdao city government’s official microblog Thursday said Health Commission Director Sui Zhenhua and Deng Kai, president of Qingdao’s thoracic … Read more China fires 2 health officials following new virus outbreak
A supermajority — two-thirds of respondents, including a solid majority of Republicans — supports a 2 percent tax on households whose total net worth, including stocks and real estate, exceeds $50 million. Support for such a proposal, which was a plank in Senator Elizabeth Warren’s bid for the Democratic nomination, has increased from where it … Read more Why Trump’s Efforts to Paint Biden as a Socialist Are Not Working
SEOUL, South Korea (AP) – South Korea has reported 110 new cases of the coronavirus, half of them linked to a hospital in Busan. The numbers released by the Korea Disease Control and Prevention Agency on Thursday brought the national caseload to 24,988, including 439 deaths. At least 54 infections were reported in a hospital … Read more Asia Today: SKorea reports 110 cases, half in Busan hospital
On the afternoon of Feb. 24, President Trump declared on Twitter that the coronavirus was “very much under control” in the United States, one of numerous rosy statements that he and his advisers made at the time about the worsening epidemic. He even added an observation for investors: “Stock market starting to look very good … Read more As Coronavirus Spread, Reports of Trump Administration’s Private Briefings Fueled Stock Sell-Off
T he world has experienced a noticeable reduction in carbon emissions during the coronavirus lockdown by pushing us into greener living – and Bulb’s co-founder and chief executive Hayden Wood hopes these changes are here to stay. Wood, who launched renewable energy provider Bulb with his friend Amit Gudka in 2015, believes lockdown has provided … Read more Bulb is offering a cheap way to quickly reduce your carbon footprint
MONTGOMERY, Ala. (AP) – U.S. Sen. Doug Jones on Wednesday criticized Republican challenger Tommy Tuberville’s financial record after reports emerged that the former college football coach’s nonprofit only gave a fraction of its money to charity while it spent tens of thousands of dollars to stage annual golf tournaments. The Associated Press and The New … Read more Jones: Tuberville charity filings raise questions
Gadgets were supposed to be over. Smartphones, tablets and smartwatches cannibalized the weaker devices around them, including cameras, music players, navigation units, fitness trackers and gaming devices. The few tech products that broke through the noise of crowdfunding sites and the crowded field of start-ups were quickly commoditized and undercut on Amazon. The stores that … Read more Gadgets Were on the Way Out. Then 2020 Happened.
Regulators must consider permitting the trading of bonds issued by distressed businesses in the corporate bond market, mooted Chief Economic Advisor (CEA) Krishnamurthy Subramanian, adding that with the COVID-19 pandemic set to ‘inevitably’ add to the distress in corporates’ and lenders’ balance-sheets, the country needed a price discovery mechanism for stressed assets. Asserting that the … Read more Allow trading in bonds from stressed businesses: CEA Krishnamurthy Subramanian
I t appears that the arts have been left by the government in the position of a mugging victim ordered by their assailant to say thank you for having had all their money stolen after taking a brutal beating. Ministers’ abject handling of the coronavirus crisis has left this important economic sector and export earner … Read more Forcing arts groups to applaud the government to access grants seems like economic blackmail
U.S. regulators Wednesday approved the first drug for the treatment of Ebola. The Food and Drug Administration OK’d the drug developed by Regeneron Pharmaceuticals for treating adults and children. It was tested during an outbreak in Congo that killed nearly 2,300 people before it ended in June. The drug, named Inmazeb (IN’-meh-zehb), dramatically increased survival … Read more US regulators approve 1st treatment for Ebola