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Australia’s Westpac to pay $5.5 Million for 8,000 workers because of staff underpayment
Australia’s second-largest lender, Westpac Banking Corp. (WBC.AX), announced on Friday that it would pay AUD 8 Million ($5.5 Million) including interest to around 8,000 employees who have underpaid their long service leave entitlements ...
Boeing sets the end of the 747 jumbo jets
On Thursday, Boeing Co (BA.N) announced that the company is pulling the plug on its hulking 747 jumbo jets, ending a half-century run for the twin-aisle pioneer. According to the aerospace company, the last 747 jumbo jets would roll out from ...
European stocks open higher as Asian markets rebound on strong China data
European stocks traded higher earlier on Friday after strong factory data from China fuelled a rebound in Asian markets. However, investor optimism remained limited as the U.S. reported a record surge in new COVID-19 cases. The STOXX 600 gained ...
Taiwan’s June exports may be down 3%, inflation -0.87%: Reuters poll
Taiwan's exports for June has been forecasted to have dropped by 3% in contrast to a year earlier, according to a median forecast of 13 analysts polled by Reuters. The results are based on the uncertainties of the COVID-19 pandemic as it continues ...
Dollar steadies as U.S. coronavirus cases surge ahead of holiday
The dollar traded in a narrow range on Friday, lifted by safe-haven bid as the surge of new cases in the United States quelled risk appetite. The yuan steadied after China’s services sector rebounded and investors avoided bigger positions ...
Aussie retail sales advance in May as economy resumes
May had seen Australian retail sales hitting a record level, official data showed on Friday. This followed after coronavirus-related lockdowns were lifted, allowing the entire sector to reopen and recover from a historic drop monitored in April. The ...
Asian shares reach four-month high on recovering U.S, China economies
Asian shares recorded a four-month high on Friday backed by strong payrolls data and an upbeat recovery monitored in China’s services sector. However, an increase in coronavirus cases in the United States restricted further risk-taking. MSCI’s ...
Oil prices fall as new virus cases weigh on demand recovery
Oil prices fell on Friday, losing earlier gains, as the surge of new coronavirus cases in the United States raised concerns about fuel demand recovery. Brent crude futures lost 0.7%, or 29 cents, at $42.85 per barrel. U.S. West Texas ...
Tesla to help CureVac in molecule printer production to develop a potential COVID-19 vaccine
Tesla Inc will be manufacturing mobile molecule printers in an attempt to aid Germany’s biotech firm CureVac in developing a potential COVID-19 vaccine, according to a tweet by the electric-car maker’s CEO Elon Musk on Wednesday. CureVac ...
U.S. stock futures gain ahead of critical jobs report for June
U.S. stock index futures rose on Thursday, ahead of the much-awaited jobs report that could signal further evidence of an economic rebound in June. However, gains remained limited by the record surge in daily COVID-19 cases. Dow e-minis gained ...
McDonald’s halts U.S. resumption of dine-in services for 21 days
On Wednesday, McDonald’s Corp (MCD.N) said that it plans to pause the reopening of all dine-in services in its U.S. restaurants for the next 21 days as the coronavirus outbreak flares up in areas across the country. The fast-food chain ...
Novartis agrees to pay $729 Million U.S. settlement over kickbacks
Swiss pharmaceutical giant Novartis AG (NVS) has agreed to pay more than $729 Million to settle a lawsuit that accused the company of paying illegal kickbacks to doctors and patients to increase drug sales, the U.S. Department of Justice said ...
Dollar drops to one-week lows
The dollar fell to a one-week low on Thursday as positive data on U.S. and European recovery lifted risk appetite, adding to the support provided by the latest breakthrough in the COVID-19 vaccine. The dollar index dropped 0.4%. However, it ...
Oil rises on sharp drop in crude inventories
Oil prices bounced on Thursday as a steep decline in oil inventories outweighed concerns that a surge in new coronavirus cases in the U.S. could stall demand recovery. Brent crude futures rose 0.6%, or 25 cents, at $42.28 per barrel. U.S. West ...
Asian stocks jump on vaccine optimism, U.S. payrolls eyed
Asian shares tracked Wall Street higher on Thursday. This followed even though sentiment was dull ahead of U.S. employment data. Meanwhile, copper prices recorded six-month highs on a bright global outlook and supply concerns in top producer ...
U.S. employment surge expected in June, masks fragile labor market
The U.S. economy likely boosted employment at record levels in June as more bars and restaurants resumed operations. Though this would indicate that the virus-driven recession was probably over, an upsurge in new coronavirus cases threatens ...
Japan's June factory activity contracts for 14th straight month
Japan’s factory activity for June contracted for its 14th straight month amid sharp reductions in supply and demand, according to data from a business survey released on Wednesday. Japan is one of many export-reliant nations that have ...
Asian shares mixed as gloomy data casts doubt on recovery hopes
Asian stocks were mixed on Wednesday, while safe-haven assets such as gold and the Japanese Yen remained steady as the surge in COVID-19 cases in the United States dampened recovery hopes from stronger-than-expected factory activity in China. The ...
European shares kick off the new quarter with subdued gains
On Wednesday, European stocks rose at the start of a new quarter as investors monitored the economic data which could signal the extent of a potential economic recovery as countries emerge from lockdown measures. However, the surging coronavirus ...
Ryanair's CEO warns to cut 3,500 jobs if pay cuts cannot be agreed
On Wednesday, Ryanair's (RYA.I) Chief Executive Officer Michael Kevin O'Leary announced that around 3,500 jobs would be slashed at the airline unless it could agree on a series of pay cuts with staff. The warning came after the company resumed ...
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