Friday, May 17

Business

Corona Crisis Causes Strong Economic Contraction in the United States
Business, News, US

Corona Crisis Causes Strong Economic Contraction in the United States

The sustained growth of the US economy ended in the first quarter of this year due to the corona crisis.   The gross domestic product (GDP) fell by 4.8 percent in the period. This was the most vigorous contraction since the outbreak of the financial crisis in 2008. The outcome of the first estimate by the United States government was worse than what economists had expected. They generally accounted for a contraction of 4 percent after growth of 2.1 percent a quarter earlier. Extensive measures have also been taken in the United States to prevent the spread of the coronavirus. For example, a lockdown applied in many regions. Restaurants and shops were closed in connection with the virus. Americans were also ordered to stay at home. Now it appears that consumers have become more c...
Italian Factories Remain Closed Until the Second Half of April
Business, Italy, News

Italian Factories Remain Closed Until the Second Half of April

Factories in Italy closed due to coronavirus are likely to remain closed until the second half of April, Italian media reported.   Prime Minister Giuseppe Conte previously announced that he wants to pull out of the economy by gradually putting specific sectors back to work. He told the BBC that by the end of the month, he wants to start to alleviate the restrictions imposed to stem the spread of the new coronavirus. The flattening of the rise in the number of corona patients is seen in Italy as a reason to restart the economy. But this start-up certainly will not happen before April 14, officials in Rome expect. According to union officials who are consulting with the government, the Conte government plans to extend the lockdown at least until May 3. But some factories may reopen...
The US is Facing A New Wave of First Benefit Claims
Business, News, US

The US is Facing A New Wave of First Benefit Claims

On Thursday afternoon, the United States Department of Labor released its weekly figure for the number of first claims for unemployment benefits in the United States.   Last week, the number of applications in one week appeared to have exploded due to the first wave of layoffs as a result of the corona pandemic. Approximately 3.3 million Americans turned to the government for benefits last week, nearly 11 times more than a week earlier. The number of first claims for unemployment benefits has never been higher. The previous record was set in 1982 when 695,000 people claimed benefits in one week. Experts now expect the number of initial applications to reach 3.5 million. Smaller companies, in particular, seem to be walloped by the virus. US Treasury Secretary Steven Mnuchin said ...
Airline Company Transavia Flies Less to Italy Due to Coronavirus
Business, News

Airline Company Transavia Flies Less to Italy Due to Coronavirus

Airline company Transavia flies to Italy less often due to the new coronavirus. Due to the virus outbreak, the demand for air travel to the country is falling so fast that the budget subsidiary of Air France-KLM is scrapping a tenth of its flights to Italy.   From 17 March to the end of April, Transavia flies less frequently to the Italian cities of Verona, Pisa, Bari, Bologna and Naples. In total, the airline takes 22 return flights from its flight schedule for Italy. Passengers whose flights are cancelled can rebook them for free. They also have the option to get the money refunded for their ticket. Italy is the hardest hit in Europe by the coronavirus. Although the Netherlands only gives harmful travel advice for a few areas in northern Italy, Transavia nevertheless notes that...
Andy Kong – Born With A Business Mind  – Turning Dreams into Reality
Business

Andy Kong – Born With A Business Mind – Turning Dreams into Reality

How was it growing up as a kid with immigrant parents? My father and mother immigrated from Asia to the United States at the very young age of seventeen. To make ends meet, they ventured into the restaurant business and began their first Chinese food business in South Carolina. Being the oldest, I was able to help my father out in the restaurant after school and on weekends, and I would sometimes help my mother in her nail shop depending on which place was busier. I soon began to love the idea of owning my own business. While working at the family business, I had to teach myself e-commerce and how to use social media to influence business and Facebook advertising. I soon tested my new marketing strategies on my family business by introducing Internet marketing to their business, which i...
Significantly Fewer Smartphones Produced Due to The Coronavirus
Business, News, Tech

Significantly Fewer Smartphones Produced Due to The Coronavirus

The outbreak of the coronavirus in China causes the production of smartphones to fall by an eighth in the first three months of this year.   The expected decline would mean that production will be at the lowest level in five years. Due to the virus outbreak, many factories in China remained closed for more than two weeks around Chinese New Year, where one week was planned. From this week on, factories are slowly opening again. It depends, among other things, on the location of the factories, whether that is allowed. For example, electronics manufacturer Foxconn, which assembles Apple's iPhone, among other things, was not allowed to open a factory in Shenzhen from the local authorities. The company must first take additional health measures. The measures to prevent the virus from ...
Facebook Lost Tens of Billions of Dollars in Minutes on Wall Street
Business, News

Facebook Lost Tens of Billions of Dollars in Minutes on Wall Street

The stock exchanges in New York started the trading session with losses on Thursday. Concerns about the spread of the new coronavirus weigh on sentiment.   Facebook lost tens of billions of dollars in market value in the first minutes, following a disappointing quarterly report from the social media company. After a short half-hour trading, the Dow-Jones index was 0.2 percent lower at 28,679 points. The broad-based S&P 500 fell 0.3 percent to 3262 points, and the tech fair Nasdaq lost 0.2 percent to 9261 points. Facebook was 6.2 percent lower, after a loss of almost 8 percent in the opening bell. That percentage is equivalent to around $ 50 billion in market value. Quarterly figures showed that the costs of tackling fake news, for example, increased considerably. Sales in the...
The Rise of Entrepreneur Frankie Quiroz
Business

The Rise of Entrepreneur Frankie Quiroz

How this eCommerce Journey Started? Since childhood, I haven't got much, as I always expected. Yet, I always dreamt of making a life that will keep me happy as well as safeguard my family financially. And entrepreneurship is the ultimate answer to all that I require. This is the only way that I considered to keep me going, helping others simultaneously. Is it Possible to amplify a business through social media? Undoubtedly yes. I believe that social media is the most reliable option to build a brand in today's' digital world. I consider it as a tool to make brands. However, premier Social media marketing is essential for this. Why do you consider getting into the clothing industry? Since an early age, I am a fan of streetwear and fashion; however, the idea of having my brand sprouted ...
The American Automaker Tesla Factories are Running at Full Speed
Business, News

The American Automaker Tesla Factories are Running at Full Speed

The American Automaker Tesla Factories are Running at Full Speed. Tesla has sold a record number of cars in the past quarter. The American automaker delivered around 112,000 vehicles.   This brings the number of Teslas delivered to 367,500 in 2019, an increase of 50 percent compared to a year earlier. The manufacturer of electric cars also achieved its own annual target. The majority of the Teslas delivered were Model 3 sedans, around 92,550 units. Tesla produced 19,450 cars of the Model S and Model X types. The focus in the new year remains on expanding production, according to the car company. Tesla is referring in particular to its recently opened Giga plant in China, which is expected to be able to produce 3000 cars per week. So far, a thousand Teslas have been made there, s...
Donald Trump: No Agreement Yet with China about Reversing Rates
Business, News

Donald Trump: No Agreement Yet with China about Reversing Rates

The USA has not yet produced contracts with The far east around the decrease in taxation in the long term. That is what American Leader Donald Trump informed reporters inside the White Home. According to Trump, Beijing wants to change imposed tariffs in part.   The Chinese Ministry of Business declared yesterday that import tasks would be phased out. How many and which taxation will initially vanish will still have to be agreed upon, it sounded. January last year Trump gave the beginning signal with the import taxes on Chinese washing machines and solar panel systems. Very little afterwards, import responsibilities on metallic and aluminium implemented from a lot of nations, such as The european union. Trump guaranteed the Americans a rapid and complete victory within the warfare....