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Microsoft investigates complaints of discrimination against women

Economies.com
2019-04-11 20:06PM UTC

The Quartz website reported that Microsoft investigated dozens of complaints that accused the company's management of discrimination against women and other harassment complaints from female employees.

 

It started on March 20 when an employee of the company sent an Email to her female colleagues asking them for advice on the job, saying that after 6 years of being in her job, she did not see any role or progress to make in Microsoft.

 

Many colleagues responded to this letter that they also complain of the same problem and that they work in the same degree of employment without progress or promotion compared to men, and there are complaints of harassment and verbal abuse against some of them.

 

After the complaints were sent to Microsoft's Human Resources Department, they were completely ignored and weren't investigated or verified.

 

The complaints were part of a series of rumors about Microsoft and Google, as many women accused the technology companies of discriminating against them, with a wage gap compared to men, and harassment problems.

 

In terms of trading, Microsoft index rose 0.1% to close at $120.3, with the highest price in trading today at $120.8 and the lowest price at $119.9.

Gold logs lowest close this month on stronger dollar

Economies.com
2019-04-11 17:54PM UTC

Gold prices fell today as the dollar rose against most major currencies, as positive data pushed investors away from the precious metal as a safe haven.

 

This comes after the market absorbed the minutes of the Federal Reserve meeting, which showed the Fed's adoption of patience in raising interest rates as a result of signs of a slowdown in the US economic growth and weak inflation indicators.

 

Separately, by 17:41 GMT, the dollar index rose by 0.3% to 97.1 points, reaching a high of 97.1 points and a low of 96.8 points.

 

The dollar's rally negatively impacted the performance of commodities including gold, as it made it more expensive for buyers.

 

The US economy released today labor data showing that the number of weekly jobless claims in the US fell by 8,000 to 196,000 last week, while the producer price index (PPI) rose in March.

 

At the close of the session, gold fell 1.6% to close at $1293.3 an ounce, the precious metal recorded the highest price today at $1313.1 and the lowest price at $1292.9.

Tesla intends to suspend planned investment of Gigafactory

Economies.com
2019-04-11 19:29PM UTC

The Asian newspaper Nikkei revealed today that the electric car company Tesla and its partner Panasonic are freezing their plans to expand at the (Gigafactory 1) plant in the United States.

 

The newspaper said that Tesla and Panasonic are reconsidering a plan to increase the production capacity of the plant 50% by 2020.

 

This comes as a result of investors' growing concerns about the possibility of weak demand for Tesla electric cars in the coming period, which means an abundance of production to no avail.

 

Consequently, by 19:23 GMT, Tesla fell by 3% to $267.6, as the index hit a day high of $270.5 and a low of $267.5.

 

The cost of the plant was $4.5 billion, located near Reno, Nevada, where Tesla and Panasonic collaborate to produce batteries for electric cars as well as other energy storage products.

 

Some Tesla components, parts and spare parts are also being manufactured at the factory, despite another plan by the company to produce the "Model W" in the factory.

 

Tesla said earlier that the demand for Tesla in the US market had risen significantly and exceeded expectations during the first quarter of the current year, and the company confirmed that it aims to deliver between 360 thousand and 400 thousand cars this year.

Palladium continues to decline as dollar rises

Economies.com
2019-04-11 14:21PM UTC

Palladium prices fell during today trading, as the dollar rallied against most major currencies, while analysts call the strong metal jumps "the bubble that burst."

 

The price of palladium had approached the $1,600 barrier for an ounce earlier this year with a rise in value by more than 50%.

 

This came as a result of strong demand from automakers for the use of palladium in the production of car components that reduce pollution levels.

 

In conjunction with strong demand, the Russian government announced its intention to ban the export of palladium from May to October.

 

Separately, by 14:09 GMT, the dollar index (against a number of major currencies) rose by 0.1% to 97.06 points, reaching a high of 97.1 points and a low of 96.8 points.

 

In today's trading, by 14:06 GMT, palladium futures (June delivery) fell by 0.9% to $1350.5 an ounce, the metal hit a high of $1373 and a low of $1338.3.