China pursues economic self-reliance as external risks grow: advisers

BEIJING (Reuters) – China is looking to reduce its reliance on overseas markets and technology for its economic development, government advisers say, as U.S. hostility and a global pandemic increase external risks that could hamper longer-term progress. The country’s leaders have proposed a so-called “dual circulation” model of growth to steer the economy, the sources said, which would prioritise “internal […]

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Disney's surprise profit bolsters futures ahead of economic data

(Reuters) – U.S. stock futures rose on Wednesday after Disney squeezed out a quarterly profit despite taking a $5-billion charge due to the pandemic, while investors awaited data on private payrolls and the service sector to gauge the country’s economic health. Leading gains among the Dow’s components in premarket trade, Walt Disney Co (DIS.N) jumped 6.1% as revenue declines for […]

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BMW losses almost $800 million as sales slide during lockdowns

FRANKFURT (Reuters) – BMW (BMWG.DE) expects to make an operating profit this year despite losing 666 million euros ($787 million) in the second quarter after sales of its luxury cars slumped during coronavirus lockdowns, the company said on Wednesday. The German manufacturer of BMWs, Minis and Rolls-Royces, said deliveries had begun to recover, including in China, but the rebound would […]

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Millions of Americans will struggle to pay their bills by end of August without the extra $600 unemployment insurance

By the end of August, over 5 million Americans will be unable to cover their basic expenses for a full month without the extra $600 in enhanced unemployment insurance payments that lapsed last week, according to Morning Consult. Some 30 million Americans are currently collecting jobless benefits, and they can continue to do so through the end of the year. […]

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Why Is Netflix’s Market Value Higher Than Disney’s?

Walt Disney Co. (NYSE: DIS) is reeling from the effects of the pandemic on its revenue. It posted a loss of $5 billion for the most recent quarter. The most damage was done to its theme parks. COVID-19 has hit Disney so hard that its market cap has dropped to $212 billion. Much smaller Netflix Inc. (NASDAQ: NFLX) has a […]

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New car sales rise in UK after coronavirus lockdown decline

UK car sales rebounded in July as dealerships reopened after the lockdown, benefiting from pent-up demand after months of dramatic falls. British new car registrations rose by roughly 11% year on year in July, according to preliminary data released by the Society of Motor Manufacturers and Traders (SMMT), the industry lobby group. Northern Ireland to be left out of new […]

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A bipartisan group of 7 US governors banded together to purchase COVID-19 testing equipment in the absence of a strong federal testing program

Seven states — Maryland, Louisiana, Massachusetts, Michigan, Ohio, North, Carolina, and Virginia — have entered into an agreement to purchase 3.5 million COVID-19 tests. "With severe shortages and delays in testing and the federal [Trump] administration attempting to cut funding for testing, the states are banding together to acquire millions of faster tests to help save lives and slow the […]

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THE BUY BUTTON REPORT: The introduction of SRC will turn the online retail payments industry on its head — here's how payments players can win in the new checkout landscape

This is a preview of the Business Insider Intelligence Buy Button premium research report. Purchase this report here. Business Insider Intelligence offers even more e-commerce and payments coverage with our Payments & Commerce Briefing. Subscribe today to receive industry-changing retail news and analysis to your inbox. Payments firms have introduced buy buttons to streamline the online checkout process, but so many […]

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Knott’s Berry Farm Cancels Its Annual Halloween Haunt For 2020 Due To Coronavirus Pandemic

Just over a week after Universal Studios canceled its popular Halloween Horror Nights at its Florida and California parks, Knott’s Berry Farmfollowed suit. The Southern California park has canceled its hugely popular Halloween Haunt event this year due to the coronavirus, park officials saidtoday. “Regrettably, due to continued operating restrictions related to the pandemic we have had to make the […]

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