Pandemic Financial News

Volkswagen is considering closing some factories in its home country for the first time in the German automaker’s 87-year history

External Affairs Minister S Jaishankar on Saturday highlighted India's readiness to collaborate with like-minded partners on focused agendas, citing the Quad as a prime example. Jaishankar made these remarks as he addressed the FPCI Global Town Hall 2024. Jaishankar also shared a post on X and wrote, «Addressing the @fpcindo Global Townhall 2024 session on 'Anticipating Greater Geopolitical Turbulence Ahead, and Finding Ways to Calm the Storm.'

Indian tax authorities are seeking dues of $101 million from education-technology company Byju's, once the country's biggest startup which is now undergoing an insolvency process, claim documents reviewed by Reuters on Friday showed. Backed by General Atlantic, Byju's was valued at $22 billion in 2022, but has seen its fortunes dwindle due to many regulatory issues and more recently a dispute with U.S. lenders who are demanding $1 billion in unpaid dues, triggering the company's insolvency that led to an assets freeze.

While tennis fans savor the last matches of the U.S. Open, a subset of viewers have watched the tournament as a source of fashion inspiration

Labour productivity at Canadian businesses fell by 0.2 per cent during the second quarter of 2024, with 11 of the 16 main industries recording declines, Statistics Canada said on Thursday.

The first look of the Lalbaugcha Raja, revealed on the evening of September 5, showcased the idol draped in maroon attire and adorned with intricate jewelry. The centerpiece of this year's display is the opulent gold crown, which was meticulously crafted over two months. This gesture by Anant Ambani is a testament to his longstanding relationship with the Lalbaugcha Raja committee.

«There is nothing which signals a slowdown. All leading indicators just say that it is just back to getting normal. The other point Federal Reserve has to keep in mind is, what is the runway they have? Look, they started from zero percent and which was anyway a very abnormal emergency measure,» says Anurag Singh, Managing Partner, Ansid Capital. At Jackson Hole, we heard the Fed chair, Jerome Powell, saying that the time has come for policy to adjust. The direction of travel is clear, he said, and the timing and pace of rate cuts is going to depend on incoming data. The evolving outlook, the balance of risks and he also said that it seems unlikely that the labour market is going to be a source of elevated inflationary pressures any time soon. We do not seek, he says, or welcome further cooling in the labour market conditions. But looking at the labour data now with some pockets in the market supporting this 25 basis point rate cut in September, November, and December, what is your sense of the size and pace of rate cuts that the Fed will go with? Anurag Singh: First of all, there is no panic in the economy anyways. So, there is no point, markets can behave and do what they do. But the economy overall is just getting back to normal. I mean, you see all the unemployment rate, quits rate, hiring rate, ratio of unemployed to jobs those kind of numbers are just about getting back to where they were in 2019 or 2020, just before the pandemic started.

This type of long-term thinking and experience in dealing with tough markets — and there’s no doubt maritime shipping has been brutal historically — will serve both A.P. Moller-Maersk A/S and CMA CGM SA well as the two shipping giants seek to expand into air freight. Both companies took delivery this summer of new Boeing 777 freighters and have lined up deliveries of more Boeing Co. and Airbus SE aircraft as they build out capacity. These new aircraft represent the action behind the pledges to diversify their businesses during the height of the pandemic when customers were desperate for sea and air transportation. Both Maersk and CMA CGM have invested in the trucking side of the logistics business and are now accumulating their first new aircraft to tackle the air-freight market. Shipping rates soared during the Covid-19 lockdowns, and the influx of cash from this once-in-a-generation cycle gave marine operators the cash to diversify. Maersk earned $31 billion of operating profit in 2022 alone.

Mint. The talent war is playing out between Indus Law, Cyril Amarchand Mangaldas, JSA Advocates & Solicitors, Khaitan & Co, Trilegal, Shardul Amarchand Mangaldas & Co and even boutique firms built by erstwhile senior partners of these law firms. There are multiple reasons, including the increase in M&As, regulatory filings, expansion of smaller firms that need legal help to set up different businesses, among other things. As a result, senior partners are setting up boutique firms and offering equities to former colleagues to leave the more established practices and join their new ventures.

National Company Law Tribunal in Mumbai has dismissed the Bank of Maharashtra’s application to initiate insolvency resolution proceedings against the personal guarantors of Gopal Krishna Oil Tech Industries Pvt. Ltd. The bankruptcy court, while dismissing the application observed that the lender had approached the tribunal beyond the period of the limitation. The division bench of Justice VG Bisht and a technical member Prabhat Kumar, while dismissing the lender’s application observed that the guarantees issued by personal guarantors stood invoked on April 3, 2018, and the amount due from the personal guarantees (PGs) became due and payable within 60 days from the date of receipt of the notice and becomes in default of the nonpayment of the amount stated in the notice after expiry of 60 days.

Change is in the air in Canada’s investment landscape, according to the Canadian Imperial Bank of Commerce.

Nature has shed light on the potential dangers posed by animals farmed for fur, food, or traditional medicine. Species such as raccoon dogs, mink, and muskrats, which are commonly farmed for their fur, have been found to harbor numerous viruses, some of which could pose significant risks to human health. The study's findings suggest that these animals could serve as reservoirs for emerging pathogens, potentially sparking new pandemics. Researchers collected samples from 461 individual animals found dead due to disease on fur farms across China between 2021 and 2024. These animals included minks, raccoon dogs, foxes, guinea pigs, and rabbits. The team examined tissues from the lungs, intestines, and other organs of these animals, searching for viral pathogens. Their investigation revealed a startling 125 different viruses, 36 of which were novel. Even more concerning was that 39 of these viruses were classified as high-risk, meaning they had the potential for cross-species transmission, including to humans. Among the viruses detected, several types of influenza A virus were found in guinea pigs, minks, and muskrats, including H1N2, H5N6, and H6N2. Additionally, multiple coronaviruses were identified, expanding the known host range of these viruses. Seven different species of coronaviruses were detected though none were closely related to SARS-CoV-2, which causes Covid.

The American labor market, red-hot for the past few years, has cooled

coronaviruses and influenza, are harbored in raccoon dogs, mink and other animals farmed for fur in China, scientists found in the first in-depth investigation of the seldom-studied critters. Researchers scoured for viruses in the lungs, intestines and other tissues of 461 individual fur animals that were found dead due to disease across China. They identified 125 virus species, including 36 that were novel and 39 at potentially-high risk of crossing the species barrier, including spilling over to infect humans. Raccoon dogs and mink, valued for their soft pelts, carried the highest number of potentially dangerous viruses, according to the research, published Wednesday in the journal Nature.

America’s employers posted fewer job openings in July than they had the previous month, a sign that hiring could further cool in the coming months

₹58,000-crore quick service restaurant industry, the challenge form restaurant aggregators isn’t new. But the post-pandemic revenge dining boom has petered out, while Covid-driven surge in home deliveries continues. Consumers cutting back on spending to counter inflation has made it worse.

The Bank of Canada cut its interest rate for the third consecutive time on Wednesday.

An appeals court has upheld an earlier finding that the online Internet Archive violated copyright law by scanning and sharing digital books without the publishers’ permission

Apple-Metro Chairman and CEO Zane Tankel says consumer brands need to be more creative in an inflationary environment.

Labour Day in the US was on 2 September, an appropriate moment to consider the term ‘unskilled.’ Economists have used it for as long as I can remember, and at some point, I became numb to it, thinking it was just a neutral classification. But it’s not neutral—it’s both demeaning and misleading. Often people have incredible skills; they just aren’t skills currently in high demand.

Sarvapalli Radhakrishnan, a renowned teacher and former President of India, holds special significance for both teachers and students. Dr. Radhakrishnan believed in the noble virtues of teaching, famously stating, «A true teacher is one who helps us think for ourselves.»