Three quarters of households in Britain have sufficient financial assets to cover a 25% fall in income for three months. Households with a self-employed head of the household were more likely to have a savings buffer, according to new ‘financial resilience’ data from ONS. The ONS released the figures in its first weekly ‘rapid’ stats […]
Archives for 2020
Rusal, Glencore agree aluminium deal worth up to $16.3 billion
MOSCOW (Reuters) – Russia’s Rusal has approved a new long-term aluminium supply contract with Glencore worth up to $16.3 billion, it said in a Hong-Kong regulatory statement on Friday. Swiss trader and metals producer Glencore has long been one of the main clients of Hong Kong-listed Rusal, the world’s largest aluminium producer outside China. Glencore […]
Large retailers urge government to expand list of essential items
Large-format retailers, both online and offline, have once again approached the government to include items such as cooking utensils, small home appliances, electronics and other accessories in its list of essential goods that should be allowed to be sold during the ongoing lockdown. In a meeting yesterday with the government’s empowered group for supply chain […]
Google releases location data to show if coronavirus lockdowns working in 131 countries
Alphabet‘s Google on Thursday published reports for 131 countries showing whether visits to shops, parks and workplaces dropped in March, when many governments issued stay-at-home orders to rein in the spread of the novel coronavirus. Google’s analysis of location data from billions of users’ phones is the largest public dataset available to help health authorities […]
EMI Moratorium Cost Implication – Home Loan & Credit Card
EMI Moratorium is announced by RBI as a regulatory package against COVID-19. As per RBI circular, all term loans including retail, agriculture and crop loans taken from commercial banks, co-operative banks, and NFBC are permitted to grant 3 months of EMI Moratorium between March 1, 2020, to May 31, 2020. Additionally, credit card dues are […]
ETtech Top 5: Food ordering apps focus on safety; lockdown-hit e-tailers cheer up customers & more
Illustration: Rahul Awasthi Food delivery firms reassure customers on safety What’s the news?India’s food delivery apps have started aggressive outreach about safety measures, including hygiene. Why it matters? The rapid spread of the Covid-19 has made customers sceptical about the safety of food delivery platforms. Some have expressed concern about the health of delivery partners […]
Zomato to use Gold subscriptions to aid restaurant workers
Illustration: Rahul Awasthi Online food ordering firm Zomato said all proceeds from its Gold membership subscriptions in April will go into a fund created to support restaurant workers hit by the Covid-19 lockdown. “The ongoing lockdown is affecting certain members of our society more severely than the rest. In this hour, we must chip in […]
E-tailers refund buyers, sellers have to wait
Thousands of merchants whose non-essential item orders were cancelled on Amazon India and Flipkart have to wait longer to get their payments cleared. The development comes even as these e-tailers start initiating refunds to thousands of customers who had to scrap their orders of non-essentials made before the lockdown, two people aware of the matter […]
Domino’s and ITC Foods partner to deliver groceries
Pizza chain Domino’s has partnered with packaged consumer goods maker ITC Foods to deliver groceries through a service called ‘Domino’s Essentials’, it said on Thursday, amidst the 21-day countrywide lockdown. A statement by Jubilant FoodWorks (JFL), which operates Domino’s Pizza, said the service will be rolled out in Bengaluru, Noida, Mumbai, Kolkata, Chennai and Hyderabad. […]
Oyo suspends payments to hotels; partners say clause not in contract
SoftBank-backed Oyo has written to hotel owners invoking the ‘force majeure’ clause in their agreements, with the Covid-19 pandemic severely impacting business at the hotels. ET has seen a copy of the letter dated March 28. Oyo said in the letter that since hotel revenues have dwindled and are unlikely to improve in the next […]