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Covid 19 Updates Last updated: May 7, 2021, 06:19 GMT

Confirmed

156,681,524

Recovered

134,042,630

Deaths

3,269,340

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California governor seeks end to oil drilling in state by 2045

After pressure from environmental activists and progressive politicians stating that California's goals of moving away from fossil fuels and fighting climate change cannot go side-by-side with extraction of oil and gas in
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Quilter boosts assets with revamped investment platform 

On Wednesday, Wealth manager Quilter (QLT.L) reported a 26% year-on-year jump in total assets for the first quarter result of a rebound in market sentiment due to the mass vaccinations and COVID-19 stimulus measures. 
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Madrid to host charity bullfight for matadors left jobless by COVID-19

Since the start of the pandemic last year, the bull fights are not taking place, and almost all Spain's bullrings are closed, putting the matadors into a financial crisis. 

Keeping this in mind a charity bullfig
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Russia, retaliating against Washington, says it will ask 10 U.S. diplomats to leave

After the U.S government on Thursday imposed sanctions on Russia, including curbs to its sovereign debt market, Russia asked 10 U.S. diplomats to leave the country in retaliation for Washington’s expulsion of the same nu
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Piramal Retail Finance expands multi-product retail financing platform

Piramal Capital and Housing Finance Ltd recently announced the launch of its multi-product retail financing platform, under its business arm Piramal Retail Finance. The product focuses on small and mid-town customers. Over
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Mastercard introduces Carbon Calculator for banks to be a positive force for the environment

Mastercard has unveiled its Carbon Calculator, in partnership with the Swedish fintech Doconomy, which will help banks to adopt and customize for eco-conscious consumers, who are looking to contribute to preserving the env
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Envestnet | Yodlee and Financial Dots team up to boost open banking services in the UK

Focusing initially on the United Kingdom, Financial Dots Limited has teamed-up with data analytics platform Envestnet | Yodlee, in order to provide open banking and non-open banking data services for its customers. The col
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EBANX integrates MACH’s digital wallet for international online purchases in Chile

Recently, the partnership of EBANX,  a technological payment solution provider connecting Latin American consumers to global companies, and MACH, Chile’s largest digital bank, has been announced. 

After t
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Brim partners with Canadian Western Bank to redefine banking services

Recently Brim Financial which is a Canadian next-generation company Fintech firm and a certified credit card issuer, has announced a partnership with Canadian Western Bank (CWB) to introduce Brim’s Platform as a Service
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Credit Suisse takes $4.7 billion hit from Archegos hedge fund scandal; execs step down

On Tuesday, Credit Suisse announced the exit of some of its high-level staff, due to the heavy losses from the Archegos Capital saga. After the losses, it expects a first quarter pre-tax loss of around 900 million Swiss fr
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Singapore blogger crowdfunds $99,000 to pay PM damages in defamation case

After sharing on Facebook an article that linked Prime Minister Lee Hsien to a financial scandal at Malaysia’s IMDB state fund, the financial advisor and blogger, Mr Leong Sze Hian, was ordered to pay the Prime Minister,
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Deliveroo eyes $10.5 billion listings after some funds steer clear

The banks working on the deal had announced on Tuesday that Deliveroo will be pricing its starting public offering at 390 pence per share, at the bottom end of earlier indicated valuations for the food delivery group.

<
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Novartis closes U.S. gene therapy site as Zolgensma sales fell from Q3 to Q4

Novartis is suspending 400 people and closing a U.S. gene therapy location that it bought only two years ago to make its $2.1 million per patient treatment Zolgen Same as sales momentum for the most expensive one-time trea
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Financials, energy stocks lead Wall Street higher on recovery hopes

On Friday, Wall Street’s main indexes soared broadly with technology, energy, and financial stocks supplying the biggest boost as investors bet on what is assumed to be the fastest economic growth since 1984.

The S
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U.S. Justice Department in talks with California to settle high-speed rail suit

On Monday, the U.S. Justice Department announced that it was in settlement discussions with California to sort out a 2019 lawsuit filed by the state after the Trump administration rejected nearly a $1 billion federal grant
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Deliveroo eyes $12 billion market cap in upcoming London IPO

On Monday, Deliveroo had announced that its upcoming initial public offering (IPO) in London will value the company at upto nearly 8.8 billion pounds ($12.19 billion).

The Amazon-backed food delivery company is terme
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Young Goldman Sachs bankers ask for 80-hour week cap

The internal survey at Goldman Sachs among 13 employees, showed that the average hours of work per week as 95 hours, and that they might quit their gruelling working conditions improve.

The report also said that due
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U.S. imported $2.4 billion in illegally fished seafood in 2019, U.S. agency says

The United States had imported $2.4 billion of seafood from illegal, unreported, and unregulated fishing in 2019, representing 11% of total U.S. imports, the U.S. International Trade Commission had stated this in a report
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Unstoppable Volkswagen shares eye the best week ever in EV frenzy

On Thursday, shares in Germany’s Volkswagen were raised and on course for a fourth daily increase and their best week ever as investors encouraged its ideas to overtake Tesla in the electric car market.

The surge h
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China to put financial institution bankruptcy laws on legislative agenda

For the first time, China will impose financial institution bankruptcy rules and laws on its legislative plans, as per the report by the top legislative body broadcasted on Monday.

The vacancy of a legal bankruptcy f
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China's Primavera raising up to $5 billion in new dollar fund -sources

New U.S. dollar-denominated fund of up to $5 billion, is being raised by Chinese private equity firm Primavera Capital Group, which is an early investor in billionaire Jack Ma’s Ant Group, said two people with direc
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Credit Suisse Group plans to wind down a $10 billion to Greensill Linked Funds

Credit Suisse Group AG, suspends the plan to gradually end a $10 billion group of supply chain finance fund that is linked to financier Lex Greensill this week due to the valuation concern. "The fund boards have now decide
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BOJ's Kuroda has no plan of widening yield band at March review

Bank of Japan governor Haruhiko Kuroda said it is needless to widen the yield band by allowing the yield to move higher, also emphasized on keeping the borrowing costs low to stimulate the pandemic hit economy.

Kurod
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Rishi Sunak says economy of UK will recover by mid-2022

Rishi Sunak, Finance Minister of UK hopes to see Britain’s economy to get through the COVID-19 financial crisis sooner than expected. He also announced a hike in corporate tax 2023 onwards. Sunak, on Wednesday in hi
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India's finance ministry to cut excise duties on petrol and diesel

India, the third largest crude oil consumer has experienced a record hike in the price of fuels. The rise has evidently started from the phase when the pandemic has settled in and has almost doubled since February 2020. Ho
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SBI has a special offer for home loan applicants

The State Bank of India is currently offering a reduction in the interest rates of home loans. SBI has always been a market leader as far as home finances and catering to the customer sentiments is concerned. To keep the t
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Bitcoin market continues to tumble; investors need to be cautious

This is not a good news for the Bitcoin investors considering the global economic scenario. The value of Bitcoin has been slashing around 6% this week. The Bitcoin trade value is 46,620.00 USD on 1 Mar,8:09 am, U
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Robinhood plans IPO filing soon……..

Robinhood broker app, at the centre of this year’s commercial trading turmoil, is scheduling to file confidentially for an IPO as soon as March, according to sources

The California-based brokerage has had talk
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Mehta and O’Connor  will remain in the position on an interim basis until the election for the chief executive role is completed: KPMG 

KPMG’S UK chair, Bill Micheal, resigned, pending the investigation into his comment. Micheal quit just a day later after the video of the meeting was posted online and controversy over his remarks grew and also apol
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JPMorgan pledges $350 million to help grow Black, Latins and women-owned businesses

JPMorgan Chase & Co believes that a stronger economy and a more competitive business environment are good for the country, communities and for the firm. So as a part of a broader effort at the bank to help close the U.
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NSE Trading Halted Today

Trading at the National Stock Exchange (NSE) has been suspended due to a technical error. According to the Twitter post by NSE, trading has been suspended on NSE over agents. There are no real-time data updates on NSE inde
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JP Morgan London hire is at the smart end of new trend

When it comes to investment banks assigning outsiders into superior roles, there are long shots and good bets. JPMorgan’s hiring of Linklaters Senior Partner Charlie Jacobs as co-head of UK investment banking seems
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General Electric Expects Negative Cash Flow In Q1 2021: CEO

In the fourth quarter, General Electric had marked a strong free cash flow finish to the challenging year 2020, reflecting the results of better operations as well as strong and improving orders in Power and Renewable Ener
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Indian Stocks record all-time high rally 

Indian share Market hit a profitable rally on Monday with commercial stocks leading broad-based gains, as corporate earnings boosted hopes of a faster economic recovery while fast floating global markets also helped risk s
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Commerzbank reports a $3.3 billion Q4 loss in its revenue as part of the Group’s restructuring

Commerzbank is aiming to return to a positive operating result in the current year by setting aside a provision for the planned restructuring as the financial year 2020 was negatively affected by the effects of the coronav
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PayPal unlikely to invest cash in cryptocurrencies

PayPal announced in October it will let U.S. customers handle bitcoin and other digital currency in its online wallet, and shop using cryptocurrency at merchants, on its network.

Earlier in this week, Mastercard anno
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Global financial firms add China staff, eyeing for profits

Global financial firms including Goldman Sachs, BlackRock and Fidelity International are adding high numbers of staff in China for the year 2021 as they look to take benefits of the $40 trillion business sector.

Beij
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JP Morgan's board rejects switch to the stakeholder-focused entity (Source: Reuters)

JPMorgan Chase & Co CEO Jamie Dimon has led calls for companies to consider the needs of workers, communities and customers as well as those of shareholders.

That would not be the case for a public benefit corpor
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Access Bank partners with American Express to spur business activity in Nigeria

American Express is a global travel, financial, and network services provider that has entered into a partnership with Access Bank to boost the use of American Express credit cards among Nigerian households that will spur
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Sensex and Nifty on a Rally

After Start of Budget session, the stock market is seeing the new rise of glimmer after having downfall during the pandemic but after the ease of lockdown and business opening, there is a sudden uplift in the market of FMC
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Deutsche Bank rebounds to profit despite the impact of transformation and COVID-19. 

Deutsche Bank rebounds to profit for the first time since 2014. The bank was profitable in all four quarters despite the impact of transformation and COVID-19. 
Full-year net profit of 2020 was 624 million euros, w
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Who says India can’t have its own GameStop mania?

Indigo Paints Ltd, is the latest company to list on the stock exchanges. At the time of its IPO, it was said, tongue-firmly-in-cheek, that the issue was priced at only 99 times trailing earnings.

Dalal Street has a s
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Wells Fargo CEO Scharf's pay drops nearly 12% in 2020

Wells Fargo & Co. chief executive officer Charles Scharf's annual pay fell by about $3 million, or 12%, in 2020, a regulatory filing showed on Friday, January 29.

Wells Fargo is a diversified, community-based fin
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NABARD estimates Odisha’s total credit requirement Rs.1, 10,735 crore for 2021-22

NABARD Chief head C Udayabhaskar said that the credit projections for Odisha for 2021-22 is Rs 1,10,735 crore. Odisha minister of finance Niranjan Pujari released the State Focus Paper at a State Credit Seminar for 2021-22
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Should investors include Bitcoin in their portfolios?

One of the big questions in finance is whether to add Bitcoin to investment portfolios. Bitcoin's volatility does cause a higher dispersion in returns and risk but performance on average is still better. 
Despite B
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Covid-19 poses several challenges for Banks and the Financial Sector

India faces a big economic challenge going ahead after the government ordered a 21-day lockdown to contain the spread of the deadly virus.
Coronavirus outbreak has led to reduced business activity and has already result
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RBI Finance Stability Report - NPA may rise to 13.5% by September 2021.

Bad loans of Indian banking system could jump sharply by September, according to Reserve Bank of India's estimates, considering the current macroeconomic climate.
The Reserve Bank of India's (RBI's) Financial Stability
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After 12 consecutive years of annual gains - Is Gold losing its glitter

In India, gold ended the week with a loss of Rs 1,417 or 2.82% on MCX. It traded around Rs 48,000 per 10 grams, a decline of Rs 2,000.
Gold prices fell Rs 614 to Rs 49,763 per 10 gram in the national capital, tracking a
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