The global novel coronavirus crisis continues to batter the U.S. labor market, with millions more Americans, including white collar workers, expected to have filed for unemployment benefits last week as the hit from the pandemic spills over into a broader swath of the economy.
(Bloomberg) — China was seen to drain liquidity from the banking system even as lenders come under pressure to handle higher demand for funds.The People’s Bank of China probably allowed 200 billion yuan ($28 billion) of its one-year lending facility to mature on Thursday, with no statement on the operation as of 11:38 a.m. local time. Analysts had expected the central bank to roll over at least some of the funds and cut the cost of the loans from the current rate of 2.95%. The PBOC typically releases a statement on MLF operations by 9:45 a.m.The central bank also refrained …read more […]
Asia’s stock markets fell and gold hit a one-week high on Thursday as worries about a second wave of coronavirus infections and a dour assessment of the way back from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.
Casual clothing chain Uniqlo has reopened more stores in the past week and plans to resume business at more shops in coming days as governments ease coronavirus restrictions, its owner Fast Retailing said on Thursday.
Oil prices crept up on Thursday, supported by a surprise decline of U.S. crude inventories, but gains were capped by worries that a potential second wave of the coronavirus pandemic might trigger fresh lockdowns and slam fuel demand once again. U.S. West Texas Intermediate (WTI) crude futures were up 8 cents, or 0.3%, to $25.37 a barrel. Crude stocks in the United States had billowed since mid-January on falling fuel demand around the world as a result of the pandemic. …read more […]
The market has proven itself difficult to predict at the best of times, yet the sustained rally since mid-March has left many perplexed. As the bad news on Main Street has kept piling up, Wall Street has nonchalantly marched on, seemingly oblivious to the pandemic’s destructive effect and buoyed by the stimulus measures.But perplexing market moves are nothing new. Which brings us to Roku (ROKU). The OTT leader delivered a solid quarterly report last week, and promptly tanked in the market, as shares dropped by 8% in Friday’s session.At first glance, this may seem odd. Roku reported revenue of $321 …read more […]
Posted by OFX AUD – Australian Dollar The Australian Dollar opens lower this morning, falling overnight as the US dollar recoups early week losses. Having touched intraday highs at 0.6522 the AUD fell back through 0.65 following commentary from Federal Reserve Chairman Jerome Powell, wherein he rejected the prospect of negative interest … Continue reading “AUD vulnerable as risk sentiment sours”The post AUD vulnerable as risk sentiment sours appeared first on . …read more […]
Asian equities were set to slump on Thursday after the head of the Federal Reserve warned of a “significantly worse” U.S. recession than any downturn since World War Two because of coronavirus pandemic fallout, sentiments that drove bonds higher on a safety bid.
(Bloomberg) — Apple Inc. Vice President of Public Policy and Government Affairs Cynthia Hogan is leaving the iPhone maker next month, the company said on Wednesday.Hogan was responsible for public policy, government relations and lobbying for the Americas region, including the U.S. and Canada. She worked out of an Apple office in Washington, and reported to Lisa Jackson, who oversees global government and environmental matters at the Cupertino, California-based technology giant. Apple didn’t say who would replace Hogan.Prior to joining Apple in 2016, she was a public policy executive at the National Football League. Before that, she worked for former …read more […]
A United Airlines Holdings Inc non-union employee filed a class action lawsuit on Wednesday alleging that a requirement that management and administration employees take 20 unpaid days off breaches the terms of federal payroll aid.
A look at the company’s first quarter financial results Continue reading… …read more […]
The global impact of COVID-19 has been unprecedented and it is far from over, but for savvy investors there may be no better time to invest in “indirect” discount gold …read more […]
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