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Showing posts from August, 2020

Reopening of Sterlite Copper unit: SC notice to Tamil Nadu govt on Vedanta plea

The state government had told the HC the deaths in police firing were not the only reason why the plant was shut down. It said the Sterlite plant was a big threat to environment and ecology and pollutants released by Sterlite were much higher than other companies in the area. from The Financial Express https://ift.tt/3bfpe7Q

Are cities really on the edge of a mass exodus?

An article titled “NYC is Dead Forever… Here’s Why” written by a New Yorker fleeing to Florida set off an internet storm this month. The piece, which argues the pandemic has forever made cities like New York less desirable, got a ton of pushback. Even Jerry Seinfeld weighed in, writing a rebuttal in the New York Times this week .  But what does the data say? Are Americans about to rent U-Hauls in masses? Or is the pandemic just accelerating the departures of people that would have moved anyway in a year or two? To find out,  Fortune and SurveyMonkey teamed up to poll 2,478 U.S. adults between August 17 and 18. We found that 8% of U.S. adults are more likely to move out of their city or county as a result of the pandemic. That could amount to tens of millions of Americans moving as a result of the pandemic. And it looks like cities will get hit hardest: The Fortune -SurveyMonkey poll finds Americans living in urban areas are twice as likely to say they’ll move out as a result o

Investors riding high on Apple and Tesla stock splits could get clipped, data shows

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . The first rule of successful investing is “buy low, sell high.” But anyone planning to apply that time-honored principle following today’s stock splits by Apple and electric carmaker Tesla should reconsider the guidance and its intent. As much as Apple CEO Tim Cook and Tesla CEO Elon Musk would love for people to snap up shares in their companies now that the post–stock split prices are “lower”—as, indeed, investors did Monday, and for weeks prior—prospective stock-buyers best be wary. While the companies’ share prices are lower, nominally, the price to own the same percentage of each company as before is not. A stock split is, fundamentally, a cosmetic accounting trick—and buying fractional ownership of these companies is, on a relative basis, more expensive than ever after factoring in recent gains in share price. All for one and one for al

Why Govt must spend to drive up demand

The pandemic is likely to have hurt the informal sector more acutely as it comprises smaller firms with limited economic buffers to withstand shocks. If small entrepreneurs are to risk their personal capital to go into business, they need a lot more support and far less interference. from The Financial Express https://ift.tt/2EIRgwu

Junshi Biosciences Announces Financial Results for Six Months Ended June 30, 2020 and Provides Corporate Updates

SHANGHAI, China, Aug. 30, 2020 (GLOBE NEWSWIRE) -- Junshi Biosciences (HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies, announced its financial results for the six months ended June 30, 2020 and provided corporate updates. Read More from Financial Post https://ift.tt/34NVeP2

It’s time to make Jackie Robinson proud

Major League Baseball celebrates a pandemic-delayed Jackie Robinson day, the NBA gets back to work following the Jacob Blake strikes, and protestors march on Washington—once again. But first, here’s your athletic week in review, in Haiku. Take me out of the  ball game, I am leaving the ice. Hang on to your peanuts and homemade  snacks, we’re not sure when we’ll ever be back Sports are also a  platform, if we don’t speak it’s our shame. Really. It is. If we don’t speak, strike, protest, lobby, march write, boycott, weigh in Jackie Robinson Day will be just another swing and a big miss. Get in the game — any game! —this weekend, if you can . Ellen McGirt @ellmcgirt Ellen.McGirt@fortune.com from Fortune https://ift.tt/3jo2YLN

Own Apple Powerbeats 2 earphones? Here’s how to claim your share of a $9.75 million settlement

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . Owners of Apple’s Beats-branded Powerbeats 2 earphones may be able to get some cash from a proposed $9.75 million legal settlement. Customers who bought a pair of the earphones before Aug. 7, 2020 qualify. Only people who purchased them from an official retailer—that excludes eBay-style secondhand resellers—are eligible. To receive an award, people must file a claim form online here or submit a downloadable form through the mail. Some customers may have already received a personalized notice of the settlement, via mail or email, alerting them of their options. The notices should include a “claim identification number” and a “confirmation code,” which can be entered here . The deadline to file a claim—online or postmarked—is Nov. 20, 2020. Head-phoniness The class action lawsuit , filed in 2017, accuses Apple of falsely advertising a “shoddy”

Elon Musk’s brain company plans a big reveal on Friday. Here’s what we already know

Elon Musk has made plenty of claims about Neuralink, his brain-machine interface company. On Twitter and on podcasts, the billionaire has touted abilities that sound nothing short of miraculous: easing depression, helping with obsessive compulsive disorder and treating traumatic brain injuries. Now, Neuralink, whose work has largely been shrouded in secrecy, is set to give a public “progress update” on Friday. In the run-up to the big reveal, Musk has allowed some glimpses at the company’s technology.  An early look  came a year ago, when the Neuralink team showed off tiny electrodes on thin, flexible probes they said would be able to penetrate brain tissue with minimal damage, and ultimately help restore brain function to people with traumatic brain injuries. The team has already been placing them in rats and primates. Will the devices actually be able to achieve the breakthroughs Musk says they can? Here’s a rundown of what we know so far about Musk’s startup—the most recent cl

IIT-Hyderabad start-up launches world’s most affordable respirator mask

An innovation-driven enterprise, currently focused on protective equipment against Covid-19, USafe has developed and commercialised the world’s most affordable respirator mask that is highly durable and adheres to the highest safety standards for operating in hazardous environments. from The Financial Express https://ift.tt/34wQ0r0

Why is Hurricane Laura so frightening? Two words: storm surge

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . As Hurricane Laura barrels toward the Louisiana-Texas border this evening, the massive category 4 storm is almost certain to pound a vulnerable stretch of coastline with cannonballs of air, as sustained 145 mile-an-hour winds flatten much of what lies in their way. But the bigger threat—a potentially “ unsurvivable ” one, according to the National Hurricane Center —will be the storm surge, and that’s partly because of where this cyclone is headed. Laura is tracking closely in the path of another killer storm 15 years ago—Hurricane Rita—which slammed the Gulf Coast less than a month after Hurricane Katrina. “Hurricane Rita was kind of forgotten about, given the epic destruction of Katrina just before it, but it was also devastating—and Hurricane Laura is pretty much on track to follow it,” says Hermann Fritz , a professor at Georgia Tech’s School o

Relay Medical and Fio Corporation Launch Mobile COVID-19 Testing and Tracking Platform

TORONTO, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Relay Medical Corp. (“ Relay ” or the “ Company ”) (CSE: RELA, OTC: RYMDF, Frankfurt: EIY2), and Fio Corporation (“ Fio ”) announce the commencement of operations of the Fionet Rapid Response Group (“FRR”) to bring a new COVID-19 mobile testing and tracking platform to market. Read More from Financial Post https://ift.tt/31y3EIt

I wasn’t ready to watch Jacob Blake get shot in the back. Social media didn’t care

I don’t know why I clicked it, but I did. When I saw “Kenosha” start to trend last Sunday, it seemed innocent enough. I married a man from Wisconsin, and I’ve learned to blend in when I can. I’m now reasonably fluent in everything from cheese talk to the Green Bay Packers. (I blame Favre, yadda, yadda, etc.) It was not what I was expecting. What I saw was a Black man being shot in the back numerous times by a white police officer. I watched him crumble. He appeared to be in his community, surrounded by horrified people, many of them young. And within a matter of seconds, the image — which was on repeat on social media — was encased in words of horror and blame, some deeply racist, some simply cries of pain.  This is the world we live in now. Trauma is captured, packaged, and amplified in seconds, surrounded by the thoughts and agendas of people we may never meet.  I write about race. I accept the fact that it is part of my job to review these images, to be able to understand and r

Salesforce shares soar 13% on strong growth despite the pandemic

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . Salesforce shares jumped nearly 13% in after-hours trading on Tuesday after the business software firm reported solid earnings amid the coronavirus pandemic.  The company’s shares rose $28.48 to $244.48 following the earnings report. Earlier in the day, during regular trading, they had gained $7.59, or 3.6%. Salesforce said it had $5.15 billion in second-quarter sales, a 29% year-over-year jump. The result beat the $4.9 billion that analysts had projected. Signaling that it expects the good times to continue, Salesforce raised its sales guidance for its fiscal 2021 from $20 billion to between $20.7 billion and $20.8 billion. The company also had $2.6 billion in second-quarter profits, driven primarily by an accounting change that created tax benefits. The strong results come at a time during which many businesses are cutting back on  IT spendi

QuestCap Closes Transaction to Acquire 100% Interest in Collection Sites, LLC, Grants Options and Extends Promissory Note

TORONTO, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Social-impact investment company  QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) announced today that it has closed the transaction to acquire 100% of Collection Sites, LLC (“Collection Sites”), first announced on August 11, 2020. Please see the Company’s press releases dated August 11, 2020 and August 17, 2020 for additional information. Read More from Financial Post https://ift.tt/2Qrl6rU

Apple judge weighs in on fight over Fortnite

The judge hearing Apple’s fight with Epic Games said she’s inclined to order Apple to temporarily stop limiting the game company’s ability to provide key graphics technology used by app developers, but not to reinstate the Fortnite app. U.S. District Judge Yvonne Gonzalez Rogers said the dispute isn’t a “slam dunk” for either side at the start of a virtual hearing Monday. Apple faces a backlash from some developers who say its standard App Store fee of up to 30% and other policies are unfair and designed to benefit iPhone maker’s own services. The fight blew up Aug. 13 when Epic told customers it would begin offering a discounted direct purchase plan for items in Fortnite, and Apple then removed the game app, cutting off access for access for more than a billion iPhone and iPad customers. Apple also cut off Epic’s graphics technology, known as Unreal Engine, a suite of software used by developers to build 3-D games and other products. More must-read tech coverage from Fortune

Of all used cars, this Tesla model sells the fastest

It’s early, but there are signs Tesla’s Model 3 could be as exceptional in the used market as it has been in the new-car world. The sedan has sold at volumes no other electric vehicle has come close to reaching , turning Tesla into the most valuable auto company in the world. But it takes a while to see how well a car performs on the used market — owners typically hold onto their wheels for at least a few years. Car-shopping websites still have small samples sizes to work with for how used Model 3s are doing, but so far the data are encouraging. The sedans are selling quickly once owners list them for sale, and TrueCar Inc.’s ALG unit sees their presence in the premium-electric vehicle market having a dramatic impact on the segment. “If you’re looking for a used Audi A4, you have other comparable options like the BMW 3 Series, Mercedes-Benz C-Class and Lexus IS,” said George Augustaitis, director of automotive industry and economic analysis at CarGurus Inc. “If you’re looking for

Why 2020 might be the year cryptocurrency goes mainstream

I run an online platform that helps people buy and sell digital assets (like Bitcoin and other cryptocurrencies). In 2016, I knew little about the industry, and today I lead one of the foremost digital asset marketplaces in the U.S. I’m evidence that anyone can learn about crypto.  For the most part, the world of crypto has operated in a strange lane all by itself, confined to Twitter and Telegram private chats. But in 2020—amid the coronavirus pandemic—interest in crypto has boomed. Whether it’s been TikTok cheering on DogeCoin or a twenty-something hacking into high-profile Twitter accounts and asking for Bitcoin, 2020 might just be the year everyone from teens to nonagenarians learns about cryptocurrencies and digital money.  There are a few factors contributing to this change, and they are important enough that Americans should be paying attention. First, government payments to individuals and businesses alike are weakening the U.S. fiat (physical cash) system. Second, large ban

Virgin Australia’s unsecured creditors to get 9-13% return under Bain deal – administrator

SYDNEY -- Virgin Australia Holdings Ltd's unsecured creditors will receive an average return of 9-13% of their funds as part of U.S. private equity group Bain Capital's proposed purchase of the airline, administrator Deloitte said in a report on Tuesday. Read More from Financial Post https://ift.tt/3lfNFqs

Medexus Announces Move to a Virtual Meeting for 2020 AGM and Equity Incentive Grants

TORONTO and CHICAGO and MONTREAL, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Medexus Pharmaceuticals Inc. (the “Company” or “Medexus”) (TSXV: MDP, OTCQX: PDDPF) today announced that due to public health restrictions related to the COVID-19 pandemic, its annual general meeting (the “ Meeting ”) will be held virtually by live webcast. Read More from Financial Post https://ift.tt/34vwYkA

Virgin Australia’s unsecured creditors to get 9-13% return under Bain deal – administrator

SYDNEY -- Virgin Australia Holdings Ltd's unsecured creditors will receive an average return of 9-13% of their funds as part of U.S. private equity group Bain Capital's proposed purchase of the airline, administrator Deloitte said in a report on Tuesday. Read More from Financial Post https://ift.tt/31o5o6Y

A pair of twin YouTubers offer a lesson in openness

The impact of the coronavirus on people of color may be worse than we thought, a long overdue apology from pediatricians, a lesson in inclusion from a pair of YouTubers, and it turns out that the big companies who posted solidarity statements after George Floyd are lagging behind in representation. But first,  raceAhead  readers respond to the 2020 Democratic National Convention, in Haiku. Michelle put it down Biden then picked it back up. We all need to vote. Roses are red, some  Nikes are blue, we all must  vote! That means you too. The “Second” Lady? Ha! She graded papers and served. Let her be First now. The roll call was great! One stood apart from the rest: The Biggest Little Vote for me, vote for you, vote for us. Fix the past: A better future. Bonus haiku on the resilience of nature: Wolverines are back Stalking prey on Mount Rainier Good news amid bad Thanks to Kevin Bethune, Mike Spinney, Anjuan Simmons, Robert Caruso and others for contributing to the ha

Photos of California’s fires reveal massive destruction across the state

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . Northern California is fighting off a a series wildfires that have scorched 771,000 acres and continue to threaten parts of the state. More than 560 fires have started, from Santa Cruz to Napa to Vacaville, mostly caused by what California officials have described as a “historic lightning siege.” A heat wave has exacerbated the problem. People watch the Walbridge Fire, part of the larger LNU Lightning Complex fire, from a vineyard in Healdsburg, Calif. on Thursday. JOSH EDELSON—AFP/Getty Images So far, five people have died in the fires and more than 119,000 others have had to evacuate from their homes. Cal Fire, the state’s fire authority, continues to battle the fires, including some of the largest in recent state history. One fire burned through Big Basin State Park, home of redwood trees, some of which are more than 1,000-years old. An a