U.S. government debt prices were higher Tuesday morning, after a historic oil price plunge stunned market participants in the previous session. At 2:45 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 0.6130%, while the yield on the 30-year Treasury bond was also lower […]
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Business
New U.S. data is expected to show millions more filing unemployment claims. Each day seems to bring unwelcome economic milestones. Another is expected to arrive Thursday with the fourth-straight weekly tally of new unemployment claims likely to be in the millions. Ahead of the Labor Department report, due at 8:30 […]
US stocks have just recorded their biggest weekly gain since 1974 despite the bleak economic outlook. Wall Street’s S&P 500 shares index has risen 12% this week, as the US central bank announced more stimulus measures to support the economy. Financial markets have experienced extreme volatility as the economic impact […]
Travel and leisure stocks including airlines and cinema chains have been hit hard by the coronavirus lockdowns and travel restrictions. While their valuations have plummeted across the board, some stocks have seen their share prices rocket this week. On Tuesday, cinema chain Cineworld shot up almost 50% while cruise ship […]
Bank of America said Monday that it’s seen fierce demand for emergency rescue loans with current applications already accounting for nearly 10% of the entire amount allocated by Congress. The bank confirmed that it has received applications from 177,000 small businesses for a total of $32.6 billion in financing. The […]
The Financial Conduct Authority (FCA) also suggested repayments on loans and credit cards should be frozen for up to three months for those in trouble. The FCA said the outbreak had caused an “unprecedented financial shock”. Experts suggest that support from banks at present is “patchy”. Banks said they were […]
India has announced a $22bn (£19bn) bailout for the country’s poor to help counter the economic effects of the Covid-19 outbreak. “We don’t want anyone to remain hungry, and we don’t want anyone to remain without money in their hands,” finance minister Nirmala Sitharaman said. The package, which includes free […]
After suffering their worst day in decades, stocks bounced back on Tuesday as Washington policymakers talked up plans to try to cushion an economy careening toward a deep recession driven by the coronavirus outbreak. The S&P 500 rose 6 percent, rebounding from a 12 percent collapse on Monday, which was […]
Novartis says ended contract with firm linked to Trump lawyer Novartis (NOVN.S) has ended a contract with a U.S. firm linked to U.S. President Donald Trump’s lawyer, Michael Cohen, and has cooperated with a special counsel looking into potential meddling in the 2016 U.S. election, the Swiss drugmaker said. It […]
Google eases tech stress with app controls, table-booking assistant The demonstrations at Google I/O, an annual event for creators of Google-compatible products, showed how big technology companies are positioning themselves for a lucrative artificial intelligence revolution while grappling with heightened scrutiny about their societal influence. Chief Executive Sundar Pichai and […]
