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US workers permanently lose 3.8 million jobs

Oct 03, 2020 23:28 pm UTC| Business

The number of workers in the US that have permanently lost their jobs surged 345,000 in September to a seven-year high of 3.8 million, up to 35.6 percent in September from just 11.1 percent in April. The labor market...

US appeals court reinstates verdict asking Teva to pay $235.5 million to GSK

Oct 03, 2020 00:00 am UTC| Business

The U.S. Federal Circuit Court of Appeals in Washington, D.C. reinstated a 2017 jury verdict ordering Teva Pharmaceutical Industries Ltd to pay $235.5 million to GlaxoSmithKline Plc for selling a generic version of a heart...

UK ferry operator P&O to scrap route to Belgium due to COVID impact

Oct 02, 2020 23:54 pm UTC| Business

PO Ferries will scrap its loss-making route between Hull and Zeebrugge, Belgium due to a coronavirus-induced sharp drop in demand. The ferry operator said it had to take difficult action due to the extended impact of...

Hyundai's US retail sales surge 7% in Q3

Oct 02, 2020 23:32 pm UTC| Business

Hyundai Motor Co. sold 161,354 units in the US via retail in the third quarter, up 7 percent from the same period last year due to rising demand for its sport utility vehicles. According to Randy Parker, vice president...

Too much sugar keeps Subway's rolls from being classified as bread in Ireland

Oct 02, 2020 00:00 am UTC| Business

Irelands Supreme Court ruled that the rolls that Subway uses in its hot sandwiches contain too much sugar to be considered as bread and entitled to zero VAT charges. The court concluded that the sugar content is around...

H&M to close 250 stores as it accelerates digital investment

Oct 01, 2020 23:57 pm UTC| Business

Swedens HM, the worlds second-biggest fashion retailer, plans to cut 250 of its stores 5,000 stores beginning next year as it accelerates plans to increase digital investment. The Stockholm-based firm said it would also...

Burger King hopes to crown itself with a Michelin star

Oct 01, 2020 23:51 pm UTC| Business

Burger King has launched a petition demanding a Michelin star for its new Master Angus burger, which elicited a response on Facebook from the Michelin Guides social media team. In its reply to the post by Burger King...

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Economy

Copper Prices Hold Near Three-Week Low Amid Strong Dollar and Global Slowdown Fears

London copper prices stabilized on Tuesday after earlier slipping to a three-week low, as market sentiment remained pressured by a strengthening U.S. dollar and growing concerns over a potential global economic slowdown....

RBA Raises Interest Rates to 4.35% Amid Rising Inflation Risks and Middle East Tensions

The Reserve Bank of Australia (RBA) increased its benchmark interest rate by 25 basis points to 4.35% on Tuesday, a move widely anticipated by markets. The decision reflects growing concerns over inflation, particularly as...

Asian Currencies Hold Steady as RBA Rate Hike and Middle East Tensions Shape Market Sentiment

Asian currencies traded in a narrow range on Tuesday as investors remained cautious amid escalating geopolitical tensions between the United States and Iran, while also focusing on central bank policy signals. Market...

European Stocks Volatile as U.S.-Iran Tensions Threaten Oil Supply and Global Markets

European stock markets showed volatility on Tuesday as escalating tensions between the United States and Iran raised concerns about global oil supply disruptions and economic stability. The pan-European Stoxx 600 index...

Iran Warns No Military Fix for Hormuz Crisis as Talks Show Progress

Irans Foreign Minister Seyed Araghchi has cautioned that escalating military actions will not resolve the ongoing Hormuz crisis, emphasizing instead the importance of diplomatic negotiations. In a recent statement,...

Politics

NATO Tensions Rise as Trump Reduces U.S. Troops in Germany

European leaders are intensifying diplomatic efforts to keep the United States committed to NATO as tensions escalate following President Donald Trumps controversial decision to withdraw 5,000 U.S. troops from Germany....

Dominican Republic Halts GoldQuest Mining Project Amid Environmental Protests

The Dominican Republic has ordered the suspension of all activities tied to GoldQuest Minings proposed gold and copper development, following large-scale protests driven by environmental concerns. President Luis Abinader...

South Korea Probes Explosion on HMM Vessel in Strait of Hormuz Amid Rising Tensions

South Korea announced an investigation into the cause of an explosion and fire aboard a South Korean-operated cargo ship in the Strait of Hormuz, a critical global shipping route. The incident, which occurred on Monday,...

Armed Suspect Shot Near White House After Firing at Secret Service Officers

A tense security incident unfolded near the White House on Monday when U.S. Secret Service officers confronted an armed and suspicious individual, leading to an exchange of gunfire and a brief lockdown of the area....

Rudy Giuliani Hospitalized in Critical but Stable Condition After Pneumonia

Former New York City Mayor Rudy Giuliani is recovering in a Florida hospital after being diagnosed with pneumonia, according to his spokesperson. The 81-year-old political figure remains in critical but stable condition,...

Science

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

Technology

Intel Emerges as Key Contender in Apple’s Chip Manufacturing Strategy Shift

Apple Inc. (NASDAQ: AAPL) is reportedly exploring new partnerships with Intel Corp. (NASDAQ: INTC) and Samsung Electronics (KS: 005930) to manufacture its main processors, signaling a potential shift in its long-standing...

Palantir Reports Record Growth, Raises 2026 Revenue Outlook Above Expectations

Palantir Technologies delivered its strongest sales growth since going public, reporting impressive first-quarter 2026 results that exceeded Wall Street expectations and boosted investor confidence. The company announced...

Anthropic Secures $1.5B AI Venture Backed by Wall Street Giants, Shaking Software Sector

Anthropic has reportedly secured $1.5 billion in funding for a new artificial intelligence joint venture backed by major Wall Street firms, signaling a significant shift in the AI and enterprise software landscape....

Meta Plans $13B AI Data Center Financing in Texas Amid Surging Big Tech Investment

Meta Platforms is reportedly partnering with Morgan Stanley and JPMorgan Chase to secure a massive $13 billion financing package for its planned data center in El Paso, Texas. According to sources cited by Reuters, the...

Anthropic’s $1.5B AI Venture with Wall Street Firms Targets Private Equity Market

Anthropic is reportedly nearing completion of a major $1.5 billion joint venture with leading financial institutions, including Blackstone and Goldman Sachs, aimed at expanding the use of artificial intelligence tools...