Sunday, 25 Oct 2020

German watchdog chief calls Wirecard "massive criminal act"

Jeff Bezos is the richest person in the world

New York (CNN Business)The economy might be a shambles, but Jeff Bezos’ wallet couldn’t tell. He’s now worth nearly $172 billion, a new record for the world’s richest person, according to Bloomberg Billionaire Index.

Bezos this week surpassed previous his previous wealth record that he reached prior to his divorce from his ex-wife MacKenzie. Last year, the couple divorced after 25 years of marriage. She received 25% of the couple’s Amazon (AMZN) stock, which is roughly a 4% stake in the company.
MacKenzie’s wealth also hit a record: She’s now worth $57 billion, making her the 12th richest person in the world. Her wealth skyrocketed 54% year to date, or an increase of nearly $20 billion, according to Bloomberg’s tallies.

    Much of Bezos’ wealth is tied to Amazon. He owns roughly 57 million shares, or 12% of the company. And its stock is doing really well, soaring 56% year to date.
    Amazon has benefited from a huge incrase in online shopping during the coronavirus pandemic, as brick-and-mortar stores either closed or faced long lines as lockdowns overtook the US this year.

      Bezos’ company, which has faced criticism for employee safety and pay, said this week its giving out more than $500 million as a “Thank You bonus” to front-line workers who were with the company throughout the month of June. That move comes after the company eliminated a $2 hourly wage bump and double overtime pay for frontline workers at the end of May.
      Amazon didn’t immediately respond for a comment regarding Bezos’ wealth.

      EARNINGS SUMMARY: Details of Lindsay Corporation Q3 Earnings Report

      Lindsay Corporation (LNN) revealed earnings for its third quarter that increased from the same period last year.

      The company’s profit came in at $10.09 million, or $0.93 per share. This compares with $2.90 million, or $0.27 per share, in last year’s third quarter.

      Analysts had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

      The company’s revenue for the quarter rose 1.7% to $123.11 million from $121.05 million last year.

      Lindsay Corporation earnings at a glance:

      -Earnings (Q3): . vs. $5.40 Mln. last year.
      -Analysts Estimate: $0.88
      -Revenue (Q3): $123.11 Mln vs. $121.05 Mln last year.

      Coronavirus: New cases rise in 36 local authorities in England

      The number of COVID-19 cases has gone up in 36 local authority areas in England.

      Knowsley, Bolton, and Hammersmith and Fulham experienced the biggest increases in the rate per 100,000 people.

      The figures from Public Health England cover the week up to 28 June, and are compared with the week before.

      India opens first plasma bank for COVID-19 treatment

      India opens its first plasma donation centre with the hope it can help reduce the number of coronavirus deaths

      India’s first plasma bank has opened in the national capital, New Delhi.

      Meanwhile, the country’s worst-affected state, Maharashtra, has started what it calls the world’s largest plasma therapy trial.

      Doctors say treating infected patients with plasma from recovered people could reduce the number of coronavirus deaths.

      Nearly 18,000 Indians have died and more than 600,000 have been infected in the world’s fourth-worst affected country.


      Al Jazeera’s Elizabeth Puranam reports from New Delhi, India.

      Leicester lockdown: Business owners 'depressed' at new emergency

      How the British city of Leicester is struggling with lockdown, as the rest of the country begins to reopen.

      As British Prime Minister Boris Johnson talks up the economy, business owners in Leicester say they are depressed.

      The English city is the first to impose a local lockdown for at least two weeks because of a resurgence in coronavirus infections.

      Al Jazeera’s Jonah Hull reports from Leicester, UK.

      Dubai's Emirates NBD to raise $750 million in perpetual bonds: document

      DUBAI (Reuters) – Emirates NBD (ENBD.DU), Dubai’s largest bank, is set to raise $750 million with perpetual bonds non-callable for six years, a document showed.

      The bank is offering investors a 6.125% yield for the paper, which is similar to an equity instrument in that it has no maturity.

      U.S. Unemployment Dipped To 11.1% In June, Fueled By Workers Returning From Temporary Layoffs

      The U.S. unemployment rate declined to 11.1% and total employment rose by 4.8 million in June, the Bureau of Labor Statistics reported Thursday. It said job increases was driven mainly by unemployed people who had been temporarily laid off returning to work and was heavily skewed to the leisure and hospitality sectors.

      The unemployment rate declined by 2.2 percentage points and the number of unemployed people by 3.2 million to 17.8 million.

      The number of permanent lob josses continued to rise, increasing by 588,000 to 2.9 million in June.

      The numbers came out a day early — Thursday instead of Friday due to the July 4 holiday. They were better than expected but are somewhat of a lagging indicator because they reflect employment as of the first half of the month, which is before the latest surge of coronavirus infections in key states across the country forced some businesses to reclose.


      German watchdog chief calls Wirecard "massive criminal act"

      FRANKFURT, July 2 (Reuters) – The head of Germany’s financial watchdog on Thursday called the accounting scandal at collapsed Wirecard “a massive criminal act”.

      “It is plain vanilla, old-fashioned criminal behaviour,” BaFin president Felix Hufeld said in an online panel discussion. (Reporting Hans Seidenstuecker; writing by Tom Sims; editing by Thomas Seythal)

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