Business & Finance News
A top White House economic adviser on Friday predicted an “increasing divergence” between states controlled by Republican governors and those led by Democrats, saying Republican “red” states opening up faster will see a stronger economic recovery.
U.S. consumer sentiment perked up in early June as households cheered the reopening of businesses and a surprise rebound in hiring, though they did not expect a significant improvement in the economy amid fears of a resurgence in COVID-19 infections.
U.S. consumer sentiment perked up in early June as households responded to the reopening of businesses, which had been shuttered to slow the spread of COVID-19, and a rebound in hiring.
Oil was little changed on Friday and headed for a first weekly fall since April as new U.S. coronavirus cases spiked, raising the prospect of a second wave of the virus hitting demand.
Global equity markets bounced back on Friday as investors took in stride the U.S. Federal Reserve’s outlook for a long road to recovery and bet shutdowns to fight the coronavirus pandemic were unlikely to be reinstated widely.
Wall Street’s main indexes rose on Friday, after a steep decline in the previous session, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries.
Richmond Federal Reserve Bank President Tom Barkin he fears the coronavirus pandemic could have effects that last beyond the next couple of months and that some of the jobs lost during the downturn may not come back.
The Federal Reserve expects U.S. household finances and business balance sheets to grapple with “persistent fragilities” as a result of the shock to economic activity arising from the coronavirus pandemic, the central bank said in a report to Congress on Friday.
An anti-China advocacy group that includes former White House adviser Steve Bannon is calling on the Trump administration to exclude Chinese companies from U.S. financial markets, as the White House studies new ways to crack down on China.
American Airlines Group Inc said on Friday it expects to halt its daily cash burn by the end of 2020 thanks to cost-cutting measures and an improvement in travel demand, easing concerns about its short-term liquidity.
The Members Exchange (MEMX), a new U.S. stock exchange backed by some of Wall Street’s biggest firms that is preparing for a Sept. 4 launch, said it received financial backing from Citigroup Inc .
Wall Street’s main indexes jumped on Friday, recouping about half of the previous session’s sharp losses, but were still on track for their worst week in nearly three months on fears of a rise in new coronavirus infections and economic worries.
An interruption to a searing rally gave a jolt to equity investors who had been getting used to weeks of steadily rising U.S. stocks.
The United States is investigating a Venezuelan shipping magnate for possibly violating U.S. sanctions by bringing fuel to gasoline-short Venezuela, according to two senior Trump administration officials.
China’s Tencent Music Entertainment Group on Friday reported a 5.2% passive stake in Warner Music Group Corp , about a week after the world’s third-largest recording label’s debut on the Nasdaq.
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