The Canadian economy lost almost two million jobs in April, a record high, as the closure of non-essential services to slow the spread of COVID-19 forced businesses to shutter temporarily.
Statistics Canada reported Friday that the economy lost nearly two million jobs in April and the unemployment rate soared to 13.0 per cent as the full force of the pandemic hit.
Canada Mortgage and Housing Corp. says construction of multi-unit housing projects remained strong in some provinces last month despite the fight against the COVID-19 pandemic.
Toronto-Dominion Bank says it expects to take a provision for credit losses related to its U.S. retail banking business of roughly $1.1 billion (US$800 million) in its second quarter due to the pandemic.
Gains in the financial sector led the way as Canada's main stock index posted a triple-digit advance in late morning trading, while the loonie rose compared with the U.S. dollar.
The U.S. unemployment rate hit 14.7 per cent in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy.
Canada Emergency Response Benefit (CERB), for people who lost income due to COVID-19, provides $2,000 a month for up to four months.
As many provinces move towards slowly reopening non-essential businesses, employers and employees are looking ahead to plan what the new normal could look like in the workplace, including whether those who have tested positive for COVID-19 will have to provide a doctor's note to return to work.
South African Breweries, one of the world's largest brewers, says it may have to destroy 400 million bottles of beer as a result of the country's ban on alcohol sales that is part of its lockdown measures to combat the spread of COVID-19.
Uber lost US$2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food delivery business as well as aggressive cost-cutting to ease the pain.
Delhi is undecided on its death tollData from four hospitals showed 92 people succumbed to Covid, while the state govt reported 68 fatalities.
Covid Live: Mumbai case-count tops 12,000Total cases in India have risen to 59,662 and 1,981 deaths so far ( including 39834 active cases, 17847 cured/discharged.)
ICMR teams up with Bharat Biotech to make vaccineThe vaccine will be developed using the virus strain isolated at the ICMR's National Institute of Virology (NIV), Pune, a statement said. The strain has been successfully transferred from NIV to BBIL, it added. The death toll due to COVID-19 rose to 1,981 and the number of cases climbed to 59,662 in the country on Saturday, according to the Union Health Ministry.
Donald Trump is looking for doctors & nursesThe legislation would send green cards to 25,000 nurses and 15,000 doctors.
VCs are gearing up for a post-pandemic auto industryAutotech is trying to pandemic-proof its portfolio as it prepares to deploy $150 million in a funding round announced this week.
The upside potential will remain capped, and the index will turn vulnerable again.
'I am a fan of ETFs, well certainly they have grown a whole lot'
ICICI Bank also approved fundraising of up to Rs 25,000 crore via non-convertible debentures.
On April 20, ET had reported that ICICI Bank had a $100 million exposure to Singapore based oil trading company Hin Leon Trading Pte.
Three deals in three weeks injected a combined $8 billion in the group and help it pare its debt.
Consumers can reach out to their preferred retailers via Tecno's website and enter their PIN code details. The microsite with a store locator will assist in mapping the retailer and the contact details, and the device will be delivered to their doorsteps by their nearest retailer.
The smartphone market registered 1.5 per cent year-on-year growth in the March quarter with shipments touching 32.5 million units, IDC said in a statement. Despite the low figure, India was the only country among the top three nations to see any growth.
The Labor Department said Friday that 20.5 million jobs vanished in April in the worst monthly loss on record, triggered by coast-to-coast shutdowns of factories, stores, offices and other businesses.
The app will ask people about their symptoms and offer guidance on whether they may have COVID-19, the potentially lethal illness caused by the coronavirus, said Bernardo Mariano, chief information officer for the WHO.
Based on evidence provided by customer receipts, the investigation confirmed that the pricing of several food items exceeded the 10-per cent increase allowed during a state of emergency, with some prices being as much as 200 per cent more.
Pence spokeswoman Katie Miller, who tested positive Friday, had been in recent contact with Pence but not with the president. She is married to Stephen Miller, a top Trump adviser
Since its launch on April 2 this year, over 96 million people have registered with the Aarogya Setu health care application, which has become the fastest mobile app to reach 50 million users globally . The Aarogya Setu has helped the government with its twin objective -- "whom to test" and "where to test more" in its battle against COVID-19.
A trading combination involving Nifty options is gaining prominence among savvy trading desks of institutional investors.
As far as stock futures are concerned, we are very near to the highest-ever open interest with 195 crore shares in open interest.
An analysis of 300 Asian small-cap schemes shows DSP BlackRock Micro Cap Fund leading the charge, delivering an 82% return over the past year.
India has inflation and it reflects the fundamental growth, Christopher Wood, equity strategist, CLSA, said at ET Now Mkt Summit-2010.
Market may see range-bound trading this week in the absence of any major trigger.
Many experts believe that looking at PE ratio in isolation won’t help investors grasp realities of the mkt and higher valuation may not be the only deciding factor driving mkt.
Prabhudas Lilladher has a ‘reduce’ rating on Infosys Technologies as it feels that the outlook for the company and the software industry is quite weak in the near-term.
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The falling rupee will severely affect the small companies, whereas the big ones will be impacted moderately. Get rid of Debt | Adopt correct investment strategies
At the recent low of 12514 points, the Sensex has tested the 12800-12000-pts support zone and has since then attempted a corrective rally.
BusinessWeek's 'The Infotech 100', has ranked Bharti Airtel at the 21st position followed by Reddington India (55th) and RCom (66th). Successful business formula
14 firms present in a new list of world's 500 most valued firms together seeing an erosion of about $150 billion in their market value in the first three months of this year.
Shares of Cipla inched up on heavy volumes on Friday, after the company’s first quarter earnings beat the consensus estimate.
The Old Fox of Dalal Street has been on a dream run since the past couple of weeks. On Friday, most stocks that he had been steadily building up positions in figured among key gainers of the day.
The scrip, which was flat for most of the session, shot up in the final hour of trade on the Bombay Stock Exchange to settle with a net gain of 4.36 per cent at Rs 355.45.
In the late afternoon session, the scrip was being traded at 20.61 pounds, down by 5.50 per cent on the LSE. Vedanta opened on a positive note, but soon swung into the red.
In the past two days, the scrip recorded a gain of over 9 per cent on the BSE, making its investors richer by a whopping Rs 15,000 crore.
TT Ram Mohan has rightly suggested that the tax-GDP ratio measures structural improvement. The FM must rethink his medium-term debtto-GDP target.