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US Adds 1.4M Jobs In August, Unemployment Falls To 8.4 Pct

7Sep By reutersNo Comments

USA

US Adds 1.4M Jobs In August, Unemployment Falls To 8.4 Pct

Job growth slowed further in August in the United States as financial assistance from the government ran out, threatening the economy's recovery from the COVID-19 recession. Nonfarm payrolls increased by 1.371 million jobs last month after advancing 1.734 million in July, the Labor Department's closely watched employment report showed on Friday. The unemployment rate fell to 8.4 percent from 10.2 percent in July. Economists polled by Reuters news agency had forecast 1.4 million additional jobs in August and the unemployment rate sliding to 8.4 percent. Companies from transport to manufacturing industries have been announcing layoffs or furloughs, putting pressure on the White House and Congress to restart stalled negotiations for another fiscal package. With just two mo...

PayPal Introduces Buy Now Pay Later feature “Pay in 4”

2Sep By AdityaNo Comments

USA

PayPal Introduces Buy Now Pay Later feature “Pay in 4”

SAN JOSE, Calif., Sept 2, 2020-- PayPal announced "Pay in 4," a short-term installment offering for customers in the U.S. Pay in 4 can help merchants drive conversion, revenue, and customer loyalty without taking on additional risk or paying any additional fees while enabling consumers to make a purchase and pay over four, interest-free installments. Pay in 4, which is part of PayPal's growing suite of Pay Later solutions, enables merchants and partners to get paid upfront while enabling customers to pay for purchases between $30 and $600 over a six-week period. Pay in 4 is included in the merchant's existing PayPal pricing, so merchants don't pay any additional fees to enable it for their customers. Consumers pay no fees or interest, and payments are seamless with automatic r...

TikTok sues US President Trump over banning its app

25Aug By AdityaNo Comments

USA

TikTok sues US President Trump over banning its app

New York, 24th Aug 2020: Chinese short video platform TikTok suing Trump administration for banning its app service in the USA over national-security concerns. TikTok, owned by China's ByteDance said that it is not a national-security threat and that the government is acting without evidence or due process. The company filed suit Monday in federal court in California against the Commerce Department, President Donald Trump and Commerce Secretary Wilbur Ross, saying that it sought to prevent the government from “impermissibly banning" TikTok. President Donald Trump has issued two executive orders in August, first a sweeping but unspecified ban on any “transaction” with ByteDance, to take effect within 45 days. He then ordered ByteDance to sell assets used to support TikTok in the U...

Microsoft in talks to acquire TikTok, Trump considers ”banning” app in US

1Aug By PriyankaNo Comments

USA

Microsoft in talks to acquire TikTok, Trump considers ”banning” app in US

Washington, Aug 1, 2020: Microsoft said they are in advance talks to acquire TikTok's US operations, even as President Donald Trump considering to ban the popular Chinese-owned video app. "We are looking at TikTok. We may be banning TikTok," Trump told reporters at the White House. India has banned as many as 106 Chinese apps, including TikTok, a move welcomed by both the administration and the lawmakers. "We may be doing some other things. There are a couple of options. But a lot of things are happening, so we'll see what happens. But we are looking at a lot of alternatives with respect to TikTok," Trump said in response to a question. Microsoft team headed by Satya Nadella is in advanced talks to acquire the US operations of TikTok. The deal could run into billions of dollars. ...

US Invest $1.6 billion in Novavax for Coronavirus Vaccine

8Jul By reutersNo Comments

USA

US Invest $1.6 billion in Novavax for Coronavirus Vaccine

The US government has awarded Novavax Inc $1.6 billion to cover testing and manufacturing of a potential vaccine for the novel coronavirus in the United States, with the aim of delivering 100 million doses by January. The award announced by the US Department of Health and Human Services is the biggest yet from "Operation Warp Speed," the White House initiative aimed at accelerating access to vaccines and treatments to fight Covid-19, the respiratory disease caused by the coronavirus. Shares in Gaithersburg, Maryland-based Novavax rose 29% to $102 in morning trading. "What this Warp Speed award does is it pays for production of 100 million doses, which would be delivered starting in the fourth quarter of this year, and may be completed by January or February of next year," Novavax...

US looking at banning TikTok & other Chinese apps

7Jul By PriyankaNo Comments

USA

US looking at banning TikTok & other Chinese apps

Washington, Jul 7, 2020: Secretary of State Mike Pompeo said the US is "certainly looking" at banning Chinese social media apps, including TikTok, days after India blocked the popular video-sharing platform. India banned 59 apps with Chinese links, including TikTok and UC Browser, on June 29, saying they were prejudicial to sovereignty, integrity and security of the country. During an interview on Monday with Fox News'' Laura Ingraham, Pompeo said that he and President Donald Trump are taking the reports seriously after he was told by the host that India had already banned the app and Australia is considering doing so. "We are taking this very seriously and we are certainly looking at it. We have worked on this very issue for a long time, whether it's the problem of having Huawei...

US added 4.8 million jobs in June, Unemployment Rate falls to 11.1%

3Jul By AdityaNo Comments

USA

US added 4.8 million jobs in June, Unemployment Rate falls to 11.1%

Washington, Jul 3, 2020 (AP): US employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month, yet still remained far short of regaining the colossal losses it suffered this spring. The nation has now recovered roughly one-third of the 22 million jobs it lost to the pandemic recession, according to the Labor Department's jobs report released on Thursday. And with confirmed coronavirus cases spiking across the Sun Belt states, a range of evidence suggests that a job market recovery may be stalling. In those states and elsewhere, some restaurants, bars and other retailers that had re-opened are being forced to close again. The re-closings are keeping layoffs elevated: The number of Americans ...

US President Donald Trump suspends H-1B visas till year end

23Jun By PriyankaNo Comments

USA

US President Donald Trump suspends H-1B visas till year end

US President Donald Trump has issued a proclamation to suspend issuing of H-1B visas, which is popular among Indian and Chinese workers, along with other foreign work visas for the rest of the year. Trump said the step was essential to help millions of Americans who have lost their jobs due to the current economic crisis. Issuing the proclamation ahead of the November presidential elections, Trump has ignored the mounting opposition to the order by various business organisations, lawmakers and human rights bodies. The proclamation that comes into effect on June 24, is expected to impact a large number of Indian IT professionals and several American and Indian companies who were issued H-1B visas by the US government for the fiscal year 2021 beginning October 1. They would now have t...

Facebook aims to help voters, Launched Voting Information Center

17Jun By AdityaNo Comments

USA

Facebook aims to help voters, Launched Voting Information Center

New York, Jun 17, 2020: Facebook is launching a widespread effort to boost US voter turnout and provide authoritative information about voting. The social media giant is launching a “Voting Information Center” on Facebook and Instagram that will include details on registering to vote, polling places and voting by mail. It will draw the information from state election officials and local election authorities. The information hub, which will be prominently displayed on people's Facebook news feeds beginning on Wednesday and on Instagram later in the summer is similar to the coronavirus information center the company launched earlier this year in an attempt to elevate facts and authoritative sources of information on COVID-19. “I know many people are upset that we've left the Pre...

155 Indian companies Invest $22 billion, creates 125K jobs in US in 2020

17Jun By AnkitaNo Comments

USA

155 Indian companies Invest $22 billion, creates 125K jobs in US in 2020

Washington, Jun 15, 2020: As many as 155 Indian companies have invested USD 22 billion in the US, thus creating nearly 125,000 jobs in the country, according to a report issued by the Confederation of Indian Industries (CII) on Monday. The report, “Indian Roots, American Soil 2020,” is a state-by-state breakdown of tangible investments made and jobs created by 155 surveyed Indian companies doing business in all 50 states, as well as Washington, DC, and Puerto Rico. Texas, California, New Jersey, New York and Florida are home to the greatest number of workers in the US directly employed by the reporting Indian companies, the report said. “Indian-Americans have made so many important cultural, economic, and scientific contributions to our country and Texas values your hard work and...

Airbnb, NYC agree to end their fight over host data-sharing

13Jun By AnkitaNo Comments

USA

Airbnb, NYC agree to end their fight over host data-sharing

New York, Jun 12, 2020 (AP): Airbnb and New York City will settle their fight over a law that sought to limit housing rental increases by requiring short-term rental platforms to share information about their listings, the two sides announced Friday. Under the agreement, the San Francisco-based Airbnb will dismiss its federal lawsuit against the city and the New York City Council will amend a 2018 law that required home-sharing platforms to provide detailed data on all their listings. Under the amended law, home-sharing companies will still be required to provide information including addresses and names of hosts, but the law will apply only to listings that offer an entire home or that allow three or more guests to stay at one time.The data will have to be provided on a quarterly b...

Twitter fact check controversy: President Trump threatens new regulation or shutdown

28May By NitishNo Comments

USA

Twitter fact check controversy: President Trump threatens new regulation or shutdown

Washington, May 28 (AP): President Donald Trump, the historically prolific tweeter of political barbs and blasts, threatened social media companies with new regulation or even shuttering after Twitter added fact checks to two of his tweets. He turned to his Twitter account to tweet his threats. The president can''t unilaterally regulate or close the companies, and any effort would likely require action by Congress. His administration has shelved a proposed executive order empowering the Federal Communications Commission to regulate technology companies, citing concerns it wouldn''t pass legal muster. But that didn''t stop Trump from angrily issuing strong warnings. Tech giants “silence conservative voices," he claimed on Twitter early Wednesday. “We will strongly regulate, or clo...