Wednesday, October 28, 2020
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A 70-year-old Portuguese man has died after he was attacked by a swarm of murder hornets while picking fruit in Portugal. The victim, identified only as Celso by The Mirror, was picking persimmons with his friend Abilio Rodrigues, 60, when he was attacked by a swarm of the insects. Celso’s friend, who was also hurt in the incident told the Portuguese daily Jornal...
Southwest Airlines on Thursday reported the biggest loss ever in the history of the company as coronavirus pandemic continues hitting the Airline industry hard. The Dallas-based company blamed its $1.2 billion Third Quarter 2020 net loss on the covid-19 that has forced travelers to stay off plane - a situation not likely to change any time soon. "The pandemic persists along...
Barely six months after starting business with $2 billion, the mobile streaming service Quibi, is calling it quits. “We feel that we’ve exhausted all our options. As a result we have reluctantly come to the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our colleagues with grace,” the company announced Wednesday in an...
Bitcoin soared as much as 8% on Wednesday after PayPal announced it would launch its own cryptocurrency service, allowing people to buy, hold and sell digital currency on its site and applications. It also said that more than 26 million merchants using PayPal would also be able to accept cryptocurrencies as a funding source. The Online Payments said that adding crypto was a significant...
The U.S Justice Department has filed a lawsuit against Google for antitrust violations, alleging that it abused its dominance in online search and advertising to stifle competition and harm consumers. “Google is the gateway to the internet and a search advertising behemoth,” U.S. Deputy Attorney General Jeff Rosen told reporters. “It has maintained its monopoly power through exclusionary practices that...
China's super-rich people have made $1.5 trillion during the coronavirus pandemic despite the global slump caused by the crisis, The Sun reported. The annual rich list of billionaires published today shows that 257 more Chinese have become billionaires during the past 12 months. Covid-19 pandemic is said to have triggered the worst global economic crisis since the Great Depression including over...
A growing number of evidence suggests that blood type may play a key role in the risk of contracting the coronavirus or developing life-threatening complications from the illness. Two studies published on Wednesday suggest that people with Type O have a lower risk of getting the coronavirus, as well as a reduced chance of becoming severely sick from the infection. The studies were...
When the initial wave of layoffs due to the coronavirus hit the U.S. economy in April and subsequent lockdowns, many people thought these losses would be temporary phenomenon that would quickly rebound as businesses reopened. However, the new employment data seems to suggest that these “temporary” job losses have turned permanent for millions of Americans. Nearly 13 million remain unemployed, which...
One hundred and fifty million people could be thrown into extreme poverty by the end of 2021, wiping out more than three years of progress in poverty reduction, the World Bank announced on Wednesday. “This is the worst setback that we’ve witnessed in a generation,” said Carolina Sánchez-Páramo, global director of the World Bank’s Poverty and Equity Global Practice. Releasing its...
Wells Fargo, America’s largest bank employer, has laid off more than 700 commercial-banking employees as part of workforce reductions that could ultimately impact “tens of thousands” of staff, Bloomberg reported on Wednesday. The Bank had previously said in July it would launch a broad cost-cutting initiative as the bank braces for huge loan losses caused by the coronavirus pandemic. “We are at...

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