Spot gold was down 0.2% to $1,732.39 per ounce by 0329 GMT, after hitting its highest level since June 2 at $1,739.68 earlier in the session. U.S. gold futures climbed 1.2% to $1,741.80. On Wednesday, spot gold prices rose 1.3%, their biggest daily percentage rise in more than a month, after the Fed said it would be a long road to recovery from the coronavirus-induced slump. …read more […]
Indonesian motorcycle taxi driver Aji chain-smokes and checks his smartphone constantly while waiting for orders by the roadside in downtown Jakarta on a hot June morning, but is staring at the prospect of another fruitless day.
Battered by lockdowns and movement restrictions in the coronavirus pandemic, ride-hailers around the world are cutting jobs and pay, and slashing other costs. In Southeast Asia, the pandemic has raised doubts whether the ride-hailing firms can maintain their promise of improving the lives of millions of poor.
New U.S. solar installations will increase by a third this year, a report published on Thursday showed, as soaring demand by utilities for carbon-free power more than outweighs a dramatic decline in rooftop system orders for homes and businesses due to the coronavirus pandemic.
(Bloomberg) — Global stocks retreated Thursday amid fears of a second wave of the coronavirus in the U.S. and overnight caution from the Federal Reserve.Japanese shares led Asian equities lower, while U.S. and European futures slid. Losses accelerated after data showed coronavirus cases surpassing 2 million in the U.S., with hospitalizations jumping in Texas. Treasuries consolidated gains made in the wake of the Fed decision, which featured fresh projections including an outlook for no interest-rate hikes through 2022. The dollar rebounded and the yen pushed higher.Fed Chair Jerome Powell said the central bank had a briefing on yield-curve control, amid …read more […]
Layoffs in the United States are abating, but millions who lost their jobs because of COVID-19 continue to draw unemployment benefits, suggesting the labor market could take years to heal from the pandemic even as businesses resume hiring workers.
(Bloomberg) — The Hong Kong arm of China’s biggest asset manager is amassing cash and building up short positions in a bet that the U.S.-China power games will escalate ahead of the American election later this year.The market hasn’t fully accounted for the “extreme steps” that President Donald Trump might take in an attempt to shore up flagging poll numbers, said Gan Tian, chief investment officer of China Asset Management (Hong Kong) Ltd., who oversees almost $400 million in hedge fund assets.“It could be to challenge China in South China Sea, it could be a military or diplomatic alliance with …read more […]
Zoom Video Communications temporarily shut the account belonging to a group of U.S.-based Chinese activists after they held an event to commemorate the 31st anniversary of China’s Tiananmen Square crackdown, the activists said on Thursday.
Zoom Video Communications temporarily shut the account belonging to a group of U.S.-based Chinese activists after they held an event to commemorate the 31st anniversary of China’s Tiananmen Square crackdown, the activists said on Thursday. Humanitarian China said the event they held on May 31 was hosted by a paid account and was joined by over 250 people worldwide via video-conferencing platform Zoom, while more than 4,000 streamed it on social media, many of whom were from China. Zoom confirmed the U.S.-based account had been suspended but had now been reactivated. …read more […]
Walmart Inc will stop keeping personal care products designed for people of color in locked display cases, the retailer said, after the practice drew flak online with many saying it suggested customers for these products cannot be trusted.
(Bloomberg) — China’s No. 2 online retailer JD.com Inc. is poised to raise HK$30.1 billion ($3.9 billion) in its Hong Kong share sale, people familiar with the matter said, putting it on track to complete the world’s second-biggest listing this year.The company is telling prospective investors that it plans to price 133 million new shares at around HK$226 each, according to the people, asking not to be identified as the information isn’t public. The indicative price represents a 3.9% discount to the Nasdaq-listed JD’s closing price of $60.70 per share on Wednesday, JD trades in the U.S. via American depositary …read more […]
Oil prices fell more than 2% on Thursday on worries about slow demand growth with coronavirus cases rising, U.S. crude stockpiles hitting an all-time high and the U.S. Federal Reserve projecting recovery from the pandemic would take years.
Asian shares eased on Thursday while bonds rallied after a downbeat economic outlook from the U.S. Federal Reserve stoked speculation it would have to add to already historic levels of stimulus to safeguard recovery.
Tyson Foods Inc said on Wednesday it was cooperating with the U.S. Department of Justice on a price-fixing investigation in the poultry industry, under a program that could protect the meat processor from criminal prosecution.
Goldman Sachs Group Inc said on Wednesday it plans to start the return of an initial group of its employees to its offices in New York, Jersey City, Dallas and Salt Lake City from June 22.
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