Business & Finance News
The U.S. unemployment rate unexpectedly fell in May and layoffs abated, the Labor Department said on Friday in a report that showed the latest signs the economic downturn caused by the COVID-19 pandemic was bottoming.
President Donald Trump on Friday sent a tweet taking credit for a stunning U.S. jobs report that showed the country’s unemployment rate dropped during the thick of the coronavirus pandemic, and then announced he would hold a news conference at 10 a.m. (1400 GMT) on the topic.
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.
Canadian business jet maker Bombardier Inc said on Friday it would cut 2,500 jobs, or about 11% of its workforce, at its aviation unit as the COVID-19 pandemic’s crushing impact on the air industry adds to its long list of problems.
The BBC appointed an insider as its new director general on Friday, tasked with securing the future direction and financing of the publicly-funded British broadcaster in the wake of government scepticism of the current model.
World stocks held near three-month highs and the euro also remained close to a three-month peak, thanks to a larger than expected European stimulus boost and on hopes of a global economic rebound.
Have HSBC and Standard Chartered “chosen profits over human rights” in backing China’s national security law for Hong Kong, as some suggest? Or does it reflect the tightrope businesses must navigate between Hong Kong’s protesters and Beijing?
The owner of British Airways is considering launching a legal challenge against the UK’s looming quarantine plan, in the latest sign of a breakdown in relations between airlines and the government over the coronavirus pandemic.
British luxury carmaker Bentley Motors said on Friday it plans to shed up to 1,000 jobs, nearly a quarter of its workforce, adding to the gloom in the sector hit hard by the coronavirus pandemic.
World stocks held their ground near three-month highs as the euro hit its highest level since March 10, thanks to Europe’s stimulus boost, fuelling hopes for a global rebound.
At the height of the coronavirus pandemic in mid-April, used-car dealer Alex Tovstanovsky had vehicles jammed six rows deep on his lot in the western Chicago suburb of Naperville.
Tim Davie was appointed the new head of the BBC on Friday, tasked with securing the future direction and financing of the publicly funded British broadcaster in the wake of government scepticism of the current model.
Canadian business jet maker Bombardier Inc said on Friday it would cut 2,500 jobs at its aviation unit and take a related charge of $40 million this year, as the COVID-19 pandemic hurts sales.
U.S. stock index futures rose on Friday with S&P 500 futures hitting a three-month high, as investors focused on tentative signs of a post-coronavirus economic rebound ahead of another expected plunge in U.S. employment data.
Tim Davie has been appointed the new head of the BBC and will take over the role at the start of September, the publicly funded British broadcaster announced on Friday.
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