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, Another $1.6 trillion stimulus package offered to boost the economy
There have been a slew of job cut announcements from many companies after the ending of all concessions from the first stimulus package and no new proposal coming out soon. The US airlines have decided to lay off all furloughed employees soon if they don’t get another infusion of government aid.
, Caesars Entertainment to Take over William Hills bookmakers
Sports betting was illegal in the US but a Supreme Court decision in 2018 overturned the federal ban and unleashed a new interest in the US in this gambling sports.
, A $20 billion stimulus package offered for the struggling airlines industry
The beleaguered airline industry is hopeful of a relief package under the new proposal of simulation payroll that Steven Mnuchin is offering to the Democrats.
, 28,000 Disney Theme Parks Workers get the cut
The coronavirus effect now extends to 28,000 furloughed employees of Disney as they are permanently laid off.
, Shell announces 9000 job cuts as business dips
The layoffs will be done in a phased manner in the coming two years and will include about 1,500 people agreeing to retire voluntarily.
, NTT to buy-out Docomo in a $38 billion deal, the largest ever in Japan
The move follows Japan’s new prime minister Yoshihide Suga’s efforts to reinvigorate the economy by lowering mobile fees.
, Herbalife Top Distributors May Face a Class Action Suit for Fraudulent Claims of Lavish Lifestyle
Multi level marketing models are intrinsically flawed as they benefit only the people at the top of the pyramid, but the aggressive marketing lures many and now Herbalife is facing a class action suit for the same tactics.
, Remington gives up its arms, sold off to 7 bidders
Remington, the gun making company has been portioned off to 7 bidders after it filed for a second bankruptcy in July this year. It brings to an end a long and chequered innings marred by lawsuits recently.
, Land Rovers and Teslas are the most unreliable cars, Says Watchdog
Expensive Land Rovers and Tesla cars declared the most unreliable vehicles
, Xpeng Reveals Plans to get into air taxi business
Xpeng Heitech is developing electric and vertical takeoff air taxis with a focus on lower altitudes of 5 to 25 metres.
, Polestar’s Percept EV Sedan will be built in Asia
The showcase EV concept car used sustainable material and a new design to decrease its carbon footprint and the factory will follow the design as closely as possible.
, Harley Davidson Announces its Exit from India
Low bike sales is the reason Harley Davidson is moving out of India, though it is looking for a partnership in the future.
, Elon Musk’s Battery Day Leaves Investors Disappointed
The virtual event by Tesla CEO Musk was almost a damp squib with nothing exciting except promises of cheaper Teslas and higher battery storage in the future, leading to a tumble in share prices
, Li Ka-shing’s buy-in of shares in CK Hutchison, CK Asset Not showing results
The stock purchases represent only about 1% of the combined market value of the two firms. The investment in these companies is more a show of confidence by the controlling company, say experts. Li Ka-Shing is known as the superman investor who has the knack to pick up cheap stocks in flailing companies and turn around fortunes.
, Automotive Industry Leaders Sue US over Tariffs on Chinese Imports
Automotive industry leaders are suing the government over the import taxes it has imposed on Chinese parts that are used in autos. The major …
, Trian Activist Fund buys Stake in Comcast
Trian feels Comcast stock is undervalued and needs to be restructured for better performance.
, JPMorgan Chase to Shift $200 billion Assets out of UK
Banks and financial institutions are moving out of London as no trade deals seems to be on the horizon for Britain after exiting the EU
, Airbus Unveils Designs for Hydrogen-powered Planes
European aerospace giant Airbus recently revealed details of three hydrogen-fueled concept planes. These planes would start their service by the year 2035.
, California Governor Bans Sale of New Gasoline Vehicles by 2035
Gove. Newsom has ordered the board to require all medium- and heavy-duty trucks to be 100% zero-emission vehicles by 2045 “where feasible.
, GE to exit coal-turbine business
GE is gathering its resources in the new world and exiting its coal market to focus on the renewable power business
, 5G technology will compete for cobalt supply with EVs
Experts predict cobalt supply is adequate for another 5 years to meet the rising demand for efficient capacity metals.
