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IMF says deeper-than-expected contraction in U.S. economy likely in second quarter
A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in the second quarter, the IMF said on Thursday.
Business News
Prudential sells Jackson equity stake to Apollo-backed Athene for $500 million
Prudential sold a minority stake in its U.S. business, Jackson, to Apollo Global-backed Athene Holding for $500 million, the insurer said on Thursday, in the first phase of its plan to create an independent U.S. business.
Business News
S&P 500, Dow dip on rising virus cases, elevated jobless claims
The S&P 500 and Dow retreated on Thursday as an uptick in coronavirus infections in parts of the United States threatened to upend bets of a swift economic recovery, with data showing weekly jobless claims remained elevated.
Business News
Oil prices broadly stable after mixed U.S. data
Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks and bears looked at rising crude stocks and new coronavirus cases.
Business News
U.S. labor market recovery stalling; second wave of layoffs underway
The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs as companies battle weak demand and fractured supply chains, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
Business News
Vans, not glamorous, but key as EU weighs autos mega-merger
Their silhouettes don’t stir dreams of adventure like a sports car or trendy SUV, but vans are a rare source of profit for European carmakers, which is why EU regulators are focused on them as they decide whether to back an industry mega-merger.
Newsmakers
NexTech (OTC: NEXCF) Adds Respirator Supplier O2Canada.com to its Growing Roster of Enterprise Customers for AR Technology Services
More Global Enterprise Customers Choosing NexTech’s Augmented Reality Technologies to Power their E-Commerce Business and Gain Competitive Edge NEW YORK, June 17, Jun 17, 2020 — NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an […]
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Markets lower as jobless claims, COVID-19 cases rise
Yahoo Finance’s Alexis Christoforous and Brian Sozzi break down today’s market action with The Sevens Report Research Founder Tom Essaye. …read more […]
Newsmakers
NexTech AR (OTC: NEXCF) and BDA, LLC Inc Sign Partner Supply Agreement
NEW YORK and TORONTO, June 18, Jun 18, 2020 — NexTech AR Solutions (the “Company” or “NexTech”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, and […]
Trading Ideas
Carnival Expects to Burn $650 Million a Month While Cruise Operations Are Paused
Carnival Corp., the world’s largest cruise company, gave no clarity about when it will cruise again in a company filing released to investors on Thursday. During the company’s second quarter, which ended on May 31, it saw a net loss of $4.4 billion, or $6.07 earnings per share, preliminary results show. It is accelerating plans […] …read more […]
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Business News
Wirecard scrambles to find missing $2.1 billion as loan crunch looms
Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German payments firm warned the delay could cause billions in loans to be called in as early as Friday.
Business News
Wall Street opens lower on rising virus cases, elevated jobless claims
U.S. stocks fell at the open on Thursday as an uptick in COVID-19 infections in the United States threatened to upend bets of a swift economic recovery, with data showing weekly jobless claims remained elevated amid a second wave of layoffs.
Business News
Wirecard faces loan crunch over missing $2.1 billion
Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending the German payments firm’s shares down over 60% on Thursday as it warned the delay could cause billions in loans to be called in as early as Friday.