U.S. consumers are paying off their credit cards as the pandemic restricts spending options and exits banks resent their winnings. According to the Federal Reserve, total card loans for the final week of October were $ 755 billion – $ 100 billion less than when the pandemic began.
The head of Donald Trump's flagship vaccine project has urged the White House to contact Joe Biden's transition team. Moncef Slaoui, a veteran pharma manager who runs Operation Warp Speed, said he wanted to make sure his project continued to operate during the power transfer.
Zambia is expected to be the first African country to default on payments since the coronavirus pandemic began, after Finance Minister Bwalya Ng & # 39; andu signaled it miss a deadline At the end of Friday, $ 42 million in interest on US dollar bonds worth around $ 3 billion will be paid.
The UK government has not properly implemented EU law by not extending health and safety protection to gig economy workers, including the provision of Personal protective equipmentthe High Court ruled on Friday. The court said two EU health and safety directives had not been properly transposed into UK law.
Rising demand During the pandemic, the food delivery app DoorDash generated $ 1.9 billion in revenue for the first nine months of 2020, which helped reduce losses. During the pandemic, DoorDash sales grew more than 200 percent from $ 587 million in the same period in 2019.
Boeing has 516 net cancellations for its disrupted 737 Max aircraft until the end of October. While the pandemic has hit both Boeing and rival Airbus, the US company has suffered an unprecedented number of canceled orders from airlines and lessors who can do so without penalty.
Tata Steel is in talks with Swedish rival SSAB about the possible sale of its Dutch business. This is likely to unsettle the future of the British steelworks Port Talbot. The industry has take a hit from the Covid-19 pandemic, which is suffering from overcapacities and high import levels.
The writer of the Hang Seng stock index in Hong Kong said Friday that it has removed the colonial-era trading company Swire Pacific from its constituent list and will add Chinese Grocery delivery app Meituan Dianping, highlighting the growing financial footprint of the Chinese tech giants.