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Chevron oil cargo tangled in U.S. sanctions on Venezuela
A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday.
Business News
United Airlines closing three international bases for flight crew
United Airlines Holdings Inc is closing its international bases for flight attendants in Frankfurt, Hong Kong, and Tokyo effective Oct. 1, 2020, according to an internal memo to crew on Friday seen by Reuters.
Business News
Trump touts job gains as ‘greatest comeback in American history’
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of its lost jobs by next year.
Business News
Nasdaq hits record high as U.S. economy shows signs of rebound
The Nasdaq Composite on Friday became the first of the three major U.S. stock indexes to bounce back to a record high, recovering from a stunning coronavirus-led slump on growing hopes of a swift economic rebound.
Trading Ideas
3 Big Dividend Stocks Yielding Over 7%; Wells Fargo Says ‘Buy’
We’re in perplexing times. At this writing, the S&P 500 index stands at 3,201, just 5.5% below its all-time high. That high, reached back in February, came the day before the bottom fell out of the stock market, as the coronavirus crisis triggered the steepest, deepest – and fastest – stock market drop on record. And now we are in the midst of a prolonged bull-rally, as the markets have been trending upwards since bottoming out on March 23.What’s an investor to do? The natural inclination during a bear market is to defend the portfolio and make conservative plays toward …read more […]
Business News
Nasdaq closes in on record high after surprise jobs report
A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump.
Business News
UBS and Bank of America units clear ECB stress test
An asset quality review and a stress test on subsidiaries of UBS and Bank of America revealed no capital shortfall, the European Central Bank said on Friday, clearing a hurdle for the banks to relocate activities to Europe from Britain.
Business News
LVMH refrains from renegotiating Tiffany deal, sources say
French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday.
Business News
Exclusive: Marriott says Trump administration orders it to cease Cuba hotel business
The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been a symbol of the U.S.-Cuban detente.
Business News
WeWork co-founder McKelvey to leave company by June end
WeWork co-founder Miguel McKelvey will leave the company at the end of June, a spokesman for the troubled office-sharing start-up said on Friday.
Business News
U.S. labor market unexpectedly improves; recovery years away
The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
Business News
Ford re-evaluates office space in coronavirus world
Ford Motor Co is re-evaluating how much office space it needs for white-collar workers as restrictions put in place during the coronavirus pandemic are eased and employees return to workplaces.
Business News
Trump says jobs data shows ‘greatest comeback in American history’
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of its lost jobs by next year.
Business News
Brazil, Mexico currencies both rebound but real has more legs than peso
The Brazilian real and Mexican peso have both rebounded strongly in recent weeks, but their rallies are starting to diverge with the peso running out of steam and the real gaining momentum.