German anti-trust watchdog launches investigation against Amazon

COVID-19 fallout: Japan's economy contracts at record pace, GDP declines 27.8%

Japan was hit by its biggest economic contraction on record in the second quarter as the coronavirus pandemic crushed consumption and exports, keeping policy makers under pressure for bolder action to prevent a deeper recession. The third straight quarter of declines knocked the size of real gross domestic product (GDP) to decade-low levels, wiping out the benefits brought by Prime Minister Shinzo Abe's "Abenomics" stimulus policies deployed in late 2012.

Railways generates over 5.5 lakh man-days of work under Garib Kalyan Rozgar Abhiyaan

Indian Railways has generated more than 5.5 lakh man-days of work under the Garib Kalyan Rozgar Abhiyan in Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh. Around 165 railway infrastructure projects are being executed in these states worth Rs 2,988 crore.

German anti-trust watchdog launches investigation against Amazon

Germany's anti-trust authority has launched an investigation into Amazon's relationship with third-party traders selling on its site. Germany is Amazon's second-biggest market after the United States. During the first few months of the COVID-19 pandemic, when many stores were closed and shoppers flocked online, there had been complaints that Amazon had blocked some traders because of allegedly overly high prices.

Facebook introduces TikTok-like short video feature

Ever since the short video format of TikTok became an international sensation, social media companies have tried to introduce a similar format on their platforms. After Instagram Reels, Facebook is now testing a new TikTok-like feature that shows short videos in the app's news feed section. Like TikTok, the videos will open in vertical format and users can swipe up to watch the next video.

COVID-19 impact: Steel demand to nosedive significantly in FY21, says N Chandrasekaran

Steel demand is expected to decline significantly in 2020-21 in line with a projected contraction in the global economy due to the impact of coronavirus pandemic, Tata Steel has said in its annual report. Most of the steel producing regions are expected to witness a decline in crude steel output due to production cuts amidst ongoing lockdowns, Tata Steel said.

USFDA okays saliva-based test for quick COVID-19 detection

The US health watchdog has authorised the emergency use of a new saliva-based laboratory diagnostic test for Covid-19 that could be a game changer in the diagnosis of the infection as it will enable rapid testing amongst more people easily. Stephen Hahn, the Food and Drugs Administration Commissioner, said the new saliva test would increase efficiency and avoid shortage of crucial test components like reagents.