BUSINESS ARTICLES

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US Senate votes to ban TikTok app on government devices

US Senate votes to ban TikTok app on government devices

The United States Senate on Thursday unanimously voted to approve a bill from Senator Josh Hawley banning federal employees from using video-sharing app TikTok on government-issued devices, amid threats from the White House to ban the company. The app has come under fire from US lawmakers and the Trump administration over national security concerns because China's ByteDance owns the technology. The company currently faces a deadline of September 15 to either sell its US operations to Microsoft Corp or face an outright ban. Sources have previously told Reuters news agency that ByteDance...

aljazeera.com
1d ago
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New blow to workers: Some companies are cutting 401(k) contributions

New blow to workers: Some companies are cutting 401(k) contributions

As if a savage market hasn’t inflicted enough damage on retirement accounts held by millions of American workers, many are suffering from an additional body blow: companies hammered by the coronavirus are cutting contributions to employees’ 401(k) plans in a desperate bid to save cash.Hotel giant Marriottwhich began the year with some 174,000 workers, started delaying matching contributions earlier this year, saying it would put off payments until September. Now, other companies are announcing similar moves. The reports that Amtrak, travel tech firm Sabre Corp.and at least two national...

marketwatch.com
Paul Brandus
1d ago
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US businesses in China face uncertainty as White House bans WeChat

US businesses in China face uncertainty as White House bans WeChat

HONG KONG: As Tencent assesses how its business might be impacted by a U.S. decision to ban its messenger app WeChat in the country, American companies in China may become unintended casualties due to their heavy reliance on the app, experts said.U.S. President Donald Trump on Thursday unveiled sweeping bans on U.S. transactions with owners of WeChat and video-sharing app TikTok, which his administration has called "significant threats".It's not clear to what extent the executive orders, which go into effect in 45 days, would impact WeChat's business and whether Tencent's large fleet of...

channelnewsasia.com
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US household debt fell for the first time in six years - Economo

US household debt fell for the first time in six years - Economo

US household debt fell for the first time in six years in the second quarter, driven by a record drop in credit card balances as consumers cut insignificant spending during the pandemic blockages, Reuters reported, citing data from The Federal Reserve in New York.Total household debt shrank by 34 billion USD to 14.27 trillion USD for the three months ended June 30, reporting its most significant decline since the second quarter of 2013.The main driver of this is the reduced balances of credit cards – a decline from 76 billion USD to about 820 billion USD, reaching its lowest level since the...

economo.co.uk
14h ago
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Energy traders flock to Japan and its $136 billion 'dream' market

Energy traders flock to Japan and its $136 billion 'dream' market

Some of the world’s biggest energy traders are looking to get ahead in Japan’s nascent power market.From Royal Dutch Shell PLC to German utility RWE AG, companies are hiring, reassigning staff and building relationships with Japanese firms to profit in the $136 billion market. After building mature markets in Europe and the U.S., they have their sights on the third-biggest economy, which is taking shape the way European trading did 20 years ago.While western markets are increasingly dominated by renewable energy and shrinking profit margins, the potential for price volatility and arbitrage...

japantimes.co.jp
Internal Submission
9h ago
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US manufacturing soars to a 15-month high

US manufacturing soars to a 15-month high

Sign inLog into your accountyour usernameyour passwordPassword recoveryRecover your passwordyour emailSign inWelcome! Log into your accountyour usernameyour passwordPassword recoveryRecover your passwordyour emailA password will be e-mailed to you.President Trump made a lot of promises on the campaign trail. And he does his best to keep them without much help from Congress. One of those promises was to bring back manufacturing.Manufacturing in the USA is measured by a key business activity gauge. And it has soared to a 15-month high in July. This exceeded all expectations.The Institute for...

independentsentinel.com
indiesentinel
4d ago
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Mitsubishi Motors Chairman Osamu Masuko quits, citing health

Mitsubishi Motors Chairman Osamu Masuko quits, citing health

Mitsubishi Motors Corp. Chairman Osamu Masuko is stepping down after 15 years due to health reasons, just as the Japanese automaker’s alliance with Nissan Motor Co. and Renault SA is being shaken by deteriorating profits.Chief Executive Officer Takao Kato will temporarily assume the role of chairman from Friday, Mitsubishi Motors said in a statement. Masuko will remain as a special adviser to the company, which didn’t elaborate on his condition.Masuko was the last top-level leader remaining from when Carlos Ghosn, the former chairman of the three automakers in the alliance, was arrested in...

japantimes.co.jp
Shiho Takezawa
15h ago
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Robinhood investors are beating the stock market — and here’s the data that proves it

Robinhood investors are beating the stock market — and here’s the data that proves it

It is hard to go an hour without seeing another headline related to Robinhood cross the screen, as the investing world has been captivated by the motley crew of investors that call the Reddit stock and option trading community r/wallstreetbets home.What piqued my interest was Hertzattempting to raise money by selling equity (later quashed by the Securities and Exchange Commission) after filing for bankruptcy, with the sole goal of selling worthless equity to Robinhooders.As a chartered financial analyst with over a decade of capital markets experience, this raised two specific questions in...

marketwatch.com
Nicholas Abe
1d ago
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Latin America News, Latin Artists and other personalities, Health and Education in Latin America, Statistics, Immigration, Latin Culture, Other world news

Latin America News, Latin Artists and other personalities, Health and Education in Latin America, Statistics, Immigration, Latin Culture, Other world news

Will You Receive Your Next Stimulus Payment Sooner Than You Think?NEXTBy ()Even before the first round of  expired, President Donald Trump has announced his support for the second round of stimulus to support Americans and qualified individuals in the country that are heavily impacted by the global pandemic. Trump recently said he would sign an  that centers house eviction protection and unemployment claims if the Congress does not act within this week. As the days progress, Republican senators are urging the Congress and the stimulus negotiators to close a deal.According to a published...

latinpost.com
Latin Post
21h ago
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Morning Brief - August 6th 2020 - Christophe Barraud

Morning Brief - August 6th 2020 - Christophe Barraud

🇺🇸 Democrats Press for Concessions With Deadline for Deal Looming – Bloomberg— Christophe Barraud🛢 (@C_Barraud)🇺🇸 , Democrats remain "trillions of dollars apart" on stimulus talks – Axios— Christophe Barraud🛢 (@C_Barraud)🇺🇸 President weighs executive order imposing stimulus – Fox Business— Christophe Barraud🛢 (@C_Barraud)🇨🇳 🇺🇸 Looking at latest U.S. data (goods only), Chinese purchases of U.S. goods improved a bit compared to May. However, using a linear extrapolation, they are still expected to decline in 2020 (compared to 2019), while deal implies a jump of more than 110%❗— Christophe...

christophe-barraud.com
2d ago
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“Go on Medi-Cal to get that”: Why Californians with mental illness are dropping private insurance to get taxpayer-funded treatment

“Go on Medi-Cal to get that”: Why Californians with mental illness are dropping private insurance to get taxpayer-funded treatment

Breaking News“Oh, you’re not on Medi-Cal?” someone at the agency asked. “We can’t help you.”Credit: Photo by Anne Wernikoff for CalMatters12:30 PM PDT August 4, 2020There’s an open secret among those who care for people with serious mental illnesses.Judy Bracken first heard it a few years ago from a hospital social worker: If Bracken wanted her adult son, who has schizoaffective disorder, to receive long-term mental health treatment, she should get him off her private insurance, UnitedHealthcare, and onto the public system for low-income people in Contra Costa County.Lucinda Chiszar figured...

cbs8.com
3d ago
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How Carding Hurts Your Business and Not Only Cardholders

How Carding Hurts Your Business and Not Only Cardholders

GeeTest Aug 06326. Over 290,000 websites and mobile apps worldwide are protected by GeeTest captcha Email SubmitCopyright © 2020 GEETEST

geetest.com
13h ago
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Japan short of rescue plans for regional lenders hit by pandemic

Japan short of rescue plans for regional lenders hit by pandemic

The coronavirus pandemic is deepening the pain for Japan’s regional lenders, heightening concerns that a potential wave of business closures will test policymakers’ ability to avert a damaging banking-sector crisis.Many central government and bank officials see the risk of a crisis emerging in the next few months, when more struggling firms could go under and hit regional banks already weakened by a shrinking domestic economy and years of ultra-low interest rates.Yet officials still have few plans besides prodding the ailing lenders to recapitalize or consolidate — and little clue on how to...

japantimes.co.jp
Internal Submission
18h ago
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The BoE lowered its expectations for the recovery of the British economy - Economo

The BoE lowered its expectations for the recovery of the British economy - Economo

The Bank of England (BoE) said the British economy was likely to recover at a slower pace than originally expected to its pre-pandemic level, while warning of possible risks of lowering key interest rates below zero.The regulator, which kept its key interest rate at 0.1%, said the country’s economy would not recover to its level from the end of 2019 until the end of next year.In May, the BoE said it allowed the British economy to recover to pre-pandemic levels in the second half of 2021.The bank expects the UK’s unemployment rate to peak at 7.5% by the end of this year, almost doubling its...

economo.co.uk
13h ago
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Japanese lawmaker wants sales tax ditched as coronavirus weighs heavily on economy

Japanese lawmaker wants sales tax ditched as coronavirus weighs heavily on economy

The government should remove a 10 percent sales tax to revive an economy dragged down by the coronavirus pandemic, a ruling party lawmaker close to Economy Minister Yasutoshi Nishimura said on Thursday, expressing a view that may gain traction as the country’s recession deepens.Hiroshi Ando is among a group of junior Liberal Democratic Party (LDP) lawmakers proposing that Japan get rid of the sales tax and directly subsidize firms to prevent business closures.Ando said the government’s decision to raise the sales tax rate to 10 percent from 8 percent last October was a “clear mistake”...

japantimes.co.jp
Leika Kihara
19h ago
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63% of U.S. consumers are willing to pay more to have seats blocked—here are the airline policies on this

63% of U.S. consumers are willing to pay more to have seats blocked—here are the airline policies on this

Keep Me Logged InCNBC Select may receive an affiliate commission when you click on the links for products from our partners. to read our full advertiser disclosure.Consumer spending continues to be affected by the coronavirus, and many Americans have canceled or postponed upcoming travel plans. Major have incurred the brunt of the impact, with many receiving bailouts from the government.But one thing that could be a win-win for both consumers and airlines is increased health and safety measures. In fact, 63% of U.S. consumers are willing to pay extra to have every other seat free on a...

cnbc.com
Alexandria White
1d ago
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Morning Brief - August 7th 2020 - Christophe Barraud

Morning Brief - August 7th 2020 - Christophe Barraud

🇺🇸 , Democrats Fail to Find Breakthrough on Stimulus – Bloomberg— Christophe Barraud🛢 (@C_Barraud)🇺🇸 Says He May Act on His Own Friday Amid Aid-Talks Stalemate – Bloomberg— Christophe Barraud🛢 (@C_Barraud)🇺🇸 🇨🇳 U.S. Moves to Tighten Disclosure Requirements for Chinese Listings – Bloomberg— Christophe Barraud🛢 (@C_Barraud)🇺🇸 🇨🇳 Moves to Ban , in U.S., Pressuring – Bloomberg— Christophe Barraud🛢 (@C_Barraud)🇹🇼 🇺🇸 🇨🇳 in talks to make first purchase of sophisticated U.S. – sources – Reuters— Christophe Barraud🛢 (@C_Barraud)🇨🇦 🇺🇸 to retaliate against U.S. tariffs: Deputy PM Freeland – Reuters—...

christophe-barraud.com
15h ago
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U.S. Employment Report Preview for July (Final Update) - Christophe Barraud

U.S. Employment Report Preview for July (Final Update) - Christophe Barraud

I already discussed the July employment situation in but I found interesting to make a final update taking into account the release of several data, analysis and comments from Donald Trump. Before starting, it’s important to remember that the U.S. employment report presents statistics from two major surveys, the Current Population Survey (CPS; household survey) and the Current Employment Statistics survey (CES; establishment survey). The most important thing is that, , “For both surveys, the data for a given month relate to a particular week or pay period. In the household survey, the...

christophe-barraud.com
1d ago
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Japan plans to expand and extend its employment benefits - Economo

Japan plans to expand and extend its employment benefits - Economo

Japan considers extending a special employment subsidy to help companies affected by the coronavirus pandemic retain their employees who are on forced leave. A decision on the issue is yet to be made, said an employee of the Ministry of Labor.Earlier, Nikkei said the ministry was working to extend the subsidy, citing an unnamed ruling party official.The news highlights concerns among politicians that ending the subsidy could lead to a jump in job losses as many companies try to cut costs amid difficult financial conditions.“It has not yet been decided, but we are considering it”, said a...

economo.co.uk
2d ago
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More than 60 NFL players choose to opt out of season due to coronavirus concerns

More than 60 NFL players choose to opt out of season due to coronavirus concerns

Keep Me Logged InKey PointsThe deadline for players to opt out of the upcoming National Football League season has officially passed, and more than 60 individuals have decided to sit at home for the 2020 season due to the coronavirus pandemic, the Thursday.The NFL's deadline was 4 p.m. ET on Thursday for voluntary opt-opts, and the league allowed players with high-risk, pre-existing medical conditions to sit aside. Players who opt out of the season are paid $150,000, which is labeled a "salary advance" and will be paid back, while high-risk players have more detailed processes.Players who...

cnbc.com
Jabari Young
1d ago
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One-Third of U.S. Restaurants Face Permanent Closure This Year

One-Third of U.S. Restaurants Face Permanent Closure This Year

You are using an older browser version. Please use a for the best MSN experience.(Bloomberg) -- A new forecast projects that one in three U.S. restaurants may close permanently this year, showing how the Covid-19 pandemic is decimating an industry that employs millions of Americans.As many as 231,000 of the nation’s roughly 660,000 eateries will likely shut down this year, according to an estimate from restaurant consultancy provided to Bloomberg News. This will bring the industry’s steady growth to a halt and mark the first time in two decades that U.S. restaurant counts don’t climb....

msn.com
21h ago
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Negative interest rates cannot save indebted economies - Economo

Negative interest rates cannot save indebted economies - Economo

Can interest be removed to avoid servicing imposing debts? The Covid-19 crisis, exacerbated by the effects of a long-running hyper-adjustable monetary policy, has led to over-indebtedness of entire economies, according to Jacques de Larosiere, former IMF managing director and governor of the French Central Bank.To address this situation, in which public debt has broken all peacetime records, some preach debt monetization through the purchase of new government bond issues and negative interest rates from central banks. This is despite historical evidence that restructuring has proven to be...

economo.co.uk
1d ago
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Silicon Valley Has a Caste Discrimination Problem

Silicon Valley Has a Caste Discrimination Problem

Dalit Indians working at U.S. tech companies tell VICE News they try to hide their identities to avoid caste-based discrimination they thought they had left behind.“Caste discrimination is in every U.S. company where Indians are working.”“I told him, ‘Because of a casteist monster like you, the world is not progressing.’”“I've seen IBM contractors on the same floor that I work openly talking about caste.”By signing up to the VICE newsletter you agree to receive electronic communications from VICE that may sometimes include advertisements or sponsored content.

vice.com
21h ago
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Fortunes Won and Lost Trading in Kodak Stock: Inside a Wild Week

Fortunes Won and Lost Trading in Kodak Stock: Inside a Wild Week

Skip to Main ContentSkip to SearchByandIn the span of six trading days, Eastman Kodak Co.’s volatile stock made millions for some and destroyed the savings of others. Kodak’s stock price first rose Monday, July 27, and then surged from $2 to as high as $60 over the following two sessions on an intraday basis thanks to the preliminary disclosure of a possible $765 million government loan to make drug ingredients at its U.S. factories. The stock then fell precipitously....To Read the Full StorySponsored Offers

wsj.com
Michael Wursthorn
1d ago
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Strong orders support the US services sector - Economo

Strong orders support the US services sector - Economo

US service industries are expanding in July at the fastest pace since February 2019. Strong data on orders and growth in business activity offset the greater merger of employment.The ISM index of the institute of the same name, measuring activity outside the industry, rose to 58.1 points from 57.1 points a month earlier. Thus, the indicator exceeds the average rating of analysts for growth up to 55 points.The measure reflects the movement of the production index and highlights the growing number of purchasing managers who have seen steady improvement since the beginning of the US pandemic....

economo.co.uk
1d ago
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