Covid-19: Brazil’s jobless rate hits record 14.6%, shows report
The figure for the July-September period was the third straight record for joblessness in Brazil. The government reports unemployment numbers for rolling periods of three months.
By Agence France-Presse| Posted by: Harshit Sabarwal | Rio de Janeiro
UPDATED ON NOV 27, 2020 06:21 PM IST
Brazil’s unemployment rate has hit a record 14.6 percent as the pandemic slammed Latin America’s largest economy, the government reported Friday.
The figure for the July-September period was the third straight record for joblessness in Brazil.
A total of 14.1 million workers were seeking jobs, said Brazilian statistics institute IBGE.
Another 5.9 million have given up looking for work -- another record, and a worrying sign for the economy.
The unemployment rate was up from 11.8 percent during the same quarter last year and 14.4 percent for the June-August period in 2020.
The government reports unemployment numbers for rolling three-month periods.
The latest rate was the highest since that system was introduced in 2012.
Brazil, Latin America’s biggest country, with 212 million people, entered a recession in the second quarter of the year with a record economic contraction of 9.7 percent.
It has been hit hard by the pandemic, which has killed more than 170,000 people in Brazil, the second-highest death toll worldwide, after the United States.
Topics
Indian Railway Finance Corporation IPO opens tomorrow
Written by Meenakshi Ray
PUBLISHED ON JAN 17, 2021 05:20 PM IST
The Union cabinet had approved listing of five railway companies in April 2017. Four of them have been listed.
Amazon Prime Video to continue investing in local content, expanding reach
PTI
PUBLISHED ON JAN 17, 2021 05:05 PM IST
APV, which has recently partnered with Airtel to bring a mobile-only plan (a global first) for Indian users, competes with platforms like Netflix, Disney Hotstar, Zee5 and others in the country.
Plea in HC against Lakshmi Vilas Bank-DBS merger
PTI, New Delhi
PUBLISHED ON JAN 17, 2021 04:38 PM IST
The petition in the Delhi High Court has been filed by lawyer Sudhir Kathpalia, who was also a shareholder in Lakshmi Vilas Bank.
'Can't read your personal conversation: WhatsApp shares status amid backlash
Written by Poulomi Ghosh
UPDATED ON JAN 17, 2021 03:38 PM IST
Whatsapp said it can't see users' shared location and it doesn't share contacts with Facebook.
Demand to rationalise GST on food delivery business to 5%
PTI, Kolkata
PUBLISHED ON JAN 17, 2021 02:29 PM IST
Restaurateurs said a high commission of 23-24 per cent by food delivery platforms have turned out to be a pain point even for several months of reopening after lockdown
Indian economy may contract by 25 per cent in current fiscal: Expert
PTI
PUBLISHED ON JAN 17, 2021 02:25 PM IST
The Reserve Bank of India (RBI) has projected the Indian economy to contract 7.5 per cent in the current financial year, while the National Statistical Office (NSO) estimates a contraction of 7.7 per cent.
Bank credit grows 3.2 pc in first nine months of FY21
PTI, Mumbai
PUBLISHED ON JAN 17, 2021 01:48 PM IST
In the fortnight ended March 27, 2020, bank advances stood at ₹103.72 lakh crore.
Six of top-10 most valued firms add over ₹1.13 lakh crore
PTI
PUBLISHED ON JAN 17, 2021 10:59 AM IST
Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, ICICI Bank and Bharti Airtel were the gainers.
UK's Deliveroo raises $180 million from investors, valued at $7 billion
Reuters
PUBLISHED ON JAN 17, 2021 05:37 AM IST
Deliveroo operates across 12 countries, mostly in western Europe but also in Australia, Hong Kong, Singapore and the United Arab Emirates. It did not state how much each investor had contributed in the latest funding round.
WhatsApp defers new policy on info sharing
By HT Correspondent, New Delhi
PUBLISHED ON JAN 16, 2021 11:38 PM IST
WhatsApp cancelled its February 8 deadline for accepting the tweak to its terms of service, involving sharing data with Facebook servers. The platform said it would instead “go to people gradually to review the policy at their own pace before new business options are available on May 15.”
Bitcoin swings undermine CFO case for converting cash to cryptocurrency
Bloomberg
PUBLISHED ON JAN 16, 2021 09:16 PM IST
Chief financial officers, not generally known as a risk-loving bunch, watched Bitcoin sink more than 25% in a 24-hour period starting Sunday.
HDFC Bank penalises its executive for inadvertently selling shares
PTI, Mumbai
PUBLISHED ON JAN 16, 2021 09:01 PM IST
The panel has determined that there was a violation of the Bank's Code and PIT Regulations and imposed a penalty of ₹10.20 lakh on Tata.
Adani Group rebuts allegations, says no loan to it turned NPA
PTI, New Delhi
PUBLISHED ON JAN 16, 2021 08:43 PM IST
The ports-to-energy conglomerate said it has built stellar infrastructure assets in the nation adopting prudent corporate governance.
Billionaire Jhunjhunwala-backed game startup Nazara starts India's tech IPO rush
Bloomberg
UPDATED ON JAN 16, 2021 08:23 PM IST
- Founded by gamer Nitish Mittersain in 2000, when he was a college undergrad, Nazara is among the firms that have benefited from a global boom in smartphone gaming that began even before the pandemic drove millions online.
RBI policies helped ease severity of economic impact of Covid-19: RBI Guv
PTI, New Delhi
PUBLISHED ON JAN 16, 2021 02:50 PM IST
With the principal objective during the pandemic to support economic activity, Das said, "looking back, it is evident that our policies have helped in easing the severity of the economic impact of the pandemic".