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Laid-off workers receiving more money from benefits than they did from jobs

Laid-off workers receiving more money from benefits than they did from jobs

As per a University of Chicago study, two-thirds (68%) of jobless US workers would bring home more money from their state unemployment insurance and $600 weekly supplement from the federal government than they would on the job. The researchers of the study added that one in every five eligible workers would receive benefits that were at least double their lost earnings.

3 days
Japan PM vows to back corporate financing with second extra budget

Japan PM vows to back corporate financing with second extra budget

Japan’s government will provide 140 trillion yen ($1.3tn) to back financing of Japanese firms hit by the economic fallout from the pandemic when it compiles on Wednesday a second extra budget for the current fiscal year, PM Shinzo Abe said. Abe told in a meeting that Japan’s economic package will total more than 230tn yen, when combined with measures covered by the first supplementary budget

3 days
Travel company shares surge as hopes of summer holidays grow

Travel company shares surge as hopes of summer holidays grow

European travel and leisure stocks soared Tuesday after Lufthansa secured a €9bn bailout and reports emerged that Spain and Germany would ease travel restrictions, and no noticeable increase in infections were reported during the re-opening of businesses. International Consolidated Airlines Group’s shares shot up almost 20% in early trading, while easyJet rose 18% and Ryanair gained 9%.

3 days
New York Stock Exchange trading floor reopened Tuesday

New York Stock Exchange trading floor reopened Tuesday

The NYSE reopened its trading floor on Tuesday after a two-month closure due to Covid-19 pandemic. A new set of rules are in place which permit only a quarter of the normal number of traders to return to work. Traders must avoid public transport and wear masks. They will also be screened at the building entrance. Anyone who fails the check will have to be tested for Covid-19 or self quarantine.

4 days
The ins and outs of wearing masks at work

The ins and outs of wearing masks at work

Marketwatch editor responds to a reader’s concerns over mask wearing at work. The editor touches on the legal responsibilities that company’s have now due to new Coronavirus rules. Focuses primarily on PPE procedures for non essential white collar workers who are returning to work in office environments after working from home.

3 days
Global markets rally as COVID-19 vaccine hopes come into focus

Global markets rally as COVID-19 vaccine hopes come into focus

Stock markets around the world surged Tuesday amid hopes for a COVID-19 vaccine and the easing of lockdown restrictions worldwide. US biotech firm Novavax said it started the first human study of its experimental COVID-19 vaccine. Japanese shares led gains in Asia, with the Nikkei 225 up 2.55%. US markets are expected to see a day of sharp gains too as investors shift focus to risky assets.

4 days
Uber-rival Bolt raises 100 million euros

Uber-rival Bolt raises 100 million euros

Ride-hailing service Bolt said Tuesday it has raised $109M from investment firm Naya Capital Management in a deal valuing the European rival of Uber at 1.7 billion euros.Bolt, which currently operates in more than 150 cities across Europe and Africa, said it had recently accelerated the expansion of its food delivery service and launched a service that helps goods vendors offer same-day delivery

4 days
Merck gets into the race for Covid-19 vaccine

Merck gets into the race for Covid-19 vaccine

Merck has announced a series of measures to fight Covid-19 Pandemic. It has teamed up with nonprofit scientific research firm IAVI to develop Covid-19 vaccine. Second, it is acquiring Themis, which focuses on vaccines & immune modulation therapies for infectious diseases and cancer. And finally it is collaborating with Ridgeback Biotherapeutics to create an oral antiviral treatment for the virus.

4 days
Rise in new home sales witnessed in US in April

Rise in new home sales witnessed in US in April

An unexpected increase in the sales of new single-family houses has been witnessed in the United States in the month of April. A 0.6% increase in sales has been recorded by the Commerce Department. The increase is said to be temporary as the coronavirus pandemic and the lockdown imposed due to it has resulted in record unemployment as well as huge damage to the economy.

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China’s top bat researcher warns that COVID-19 is just the ’tip of the iceberg’

China’s top bat researcher warns that COVID-19 is just the ’tip of the iceberg’

According to China’s top bat researcher, a global effort should be made to contain such viruses in order to prevent similar infectious outbreaks in the future. The ’bat woman’, Shi Zhengli, further warned that the coronavirus is just the ’tip of the iceberg’ if some steps are not taken soon.

4 days
Warner Music Group aiming to sell $1.82 billion in stock

Warner Music Group aiming to sell $1.82 billion in stock

In its first initial U.S. public offering, the world’s third largest recording label, Warner Music Group is looking at selling up to $1.82 billion in stock. Many debuts have been put on hold due to the coronavirus pandemic and this could be the largest New York IPO in 2020 as the market for new stocks tries to rebound.

4 days
McLaren to cut 1,200 people as virus hits demand

McLaren to cut 1,200 people as virus hits demand

UK supercar maker and Formula 1 team McLaren has decided to cut ~1200 employees of the 4,000 total employees. As Motorsport events stand cancelled and car plants & showrooms remains closed owing to Covid-19 pandemic, the company has been ’severely affected’ by the crisis. The company tried hard to cut costs and avoid layoffs but has been left with no other choice but to reduce staff said McLaren.

4 days
Nissan and Renault defer merger plans

Nissan and Renault defer merger plans

Nissan and Renault have shelved their plans for a full merger which the previous CEO Carlos Ghosn longed for. They will instead work on fixing the troubles in their alliance to push for recovery from the coronavirus pandemic.

4 days
Samsung heir questioned in succession-related probe

Samsung heir questioned in succession-related probe

Samsung Group heir Jay Lee was questioned by prosecutors about a controversial 2015 merger and alleged accounting fraud which is believed of helping him advance his succession plans. The questioning brings fresh trouble for Lee who is already facing trial over bribery charge for gaining support to succeed ailing group patriarch Lee Kun-hee and also involved former South Korean President Geun-hye.

4 days
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