Economy

Release Date: September 4 2020 Renault The team has announced that it is restructuring its brands, giving the Formula 1 team a new look. In a press release prior to the Italian Grand Prix, Group Renault revealed that it was reorganizing four brands into four distinct ‘business units’: Renault, Dacia, Alpine and New Mobility. The report continued: ‘Its purpose is …

A pedestrian walks in front of the New York Stock Exchange. Michael Knockley | Bloomberg | Getty Images U.S. stock futures fell on Thursday night, generating negative momentum from the regular trading session as Big Tech led another steep decline. The Dow Jones Industrial Average futures are down 207 points, or 0.7%. The S&P 500 futures fell 0.9% and the …

Jaguar Land Rover confirms Covid 19 explosion at its Solihull plant – four workers test positive. The company also revealed that other employees involved in confirmed cases are now self-employed. A whistleblower employee, who did not ask for a name, said the staff at the paint shop were one of those who tested positive. A worker at JLR in Solihull …

Some insights into that future can be gleaned from the Bank’s Continuing Analysis of Zombie Companies for International Settlements. Although the BIS research article published this week is based on somewhat dated data, it provides even better insights – including some surprising findings on the anatomy of zombie companies and their impact on the wider economy. Zombie companies are unprofitable, …

Bank of England Governor Andrew Bailey told MPs on Wednesday that the UK economy is facing a permanent $ 33 billion impact as the corona virus outbreak emerges. Mr Bailey warned that structural changes in the economy could have a long-term “scar” on growth and employment as people change their behavior in response to the epidemic. Behavioral changes, such as …

Eric Juan, Founder and CEO of Zoom Video Communications Inc., speaks during the BoxWorks 2019 conference on Thursday, October 3, 2019 at the Moscow Center in San Francisco, California, USA. Bloomberg Zoom shares fell more than 8% after opening trading on Wednesday as investors took their gains from the stock rise on Tuesday. Role of video conferencing software company It …

The Royal Australian Mint calls it the “donation dollar” – a specially made $ 1 coin that people hope will pay for. Key points: About $ 25 million in ‘donation dollars’ will be made over the next three years Coins are legal tender but Australians are asked to give them to people who need them Australian charities anticipate shortage of …

Image copyright Getty Images Samsung heir Lee Jae-yong faces new stock and account fraud allegations about his role in a merger deal. South Korean prosecutors on Tuesday charged Lee with criminal attempts to gain control of the Samsung Group in 2015. In 2017, Lee, 52, was convicted of charges including bribery in connection with the deal, but his five-year prison …

Walmart (WMT) will debut its hugely-anticipated once-a-year membership-centered membership referred to as Walmart+ this month. The once-a-year membership, which launches nationwide on Sept. 15, will price $98 for every yr, or $12.95 for each thirty day period, the firm stated. The perk is a distinct shot across the bow at Amazon (AMZN) — Walmart’s fiercest retail competitor — and is …

At the end of reporting season for Australia’s publicly listed companies, it’s clear COVID-19 has been a payday for some but destructive for others. Key points: A quarter of ASX 200 companies reported a loss for the 2019-20 financial year Full-year earnings were down 38 per cent, and dividends down 36 per cent Some retailers and mining stocks saw strong …