© Reuters. China mourns for coronavirus (COVID-19) victims on Qingming tomb sweeping festival BEIJING (Reuters) – China’s monetary policy will provide necessary support for the country’s economic recovery in 2021, Chen Yulu, a vice governor at the People’s Bank of
Category: Finance
finance, world economy,
Analysis – Less for more in Turkey: costly food starves economic rebound
5/5 © Reuters. Women shop at a local market in Istanbul 2/5 By Ezgi Erkoyun and Jonathan Spicer ISTANBUL (Reuters) – Food has become so expensive in Turkey that some people are spending what money they have to stock up
Biden unveils plan to pump $1.9 trillion into pandemic-hit economy
2/2 © Reuters. FILE PHOTO: U.S. President-elect Joe Biden announces economics and jobs team nominees at transition headquarters in Wilmington, Delaware 2/2 By Jeff Mason and Jarrett Renshaw WILMINGTON, Del. (Reuters) – President-elect Joe Biden outlined a $1.9 trillion stimulus
Analysis: Biden’s $1.9 trillion rescue package offers bridge for hard-hit economy
© Reuters. FILE PHOTO: U.S. President-elect Joe Biden walks into the Queen Theatre in Wilmington By Ann Saphir (Reuters) – U.S. President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge
Analysis: Wall Street cheers on Biden stimulus plan but worries about the cost
2/2 © Reuters. FILE PHOTO: U.S. President-elect Joe Biden delivers a speech in Delaware 2/2 By David Randall NEW YORK (Reuters) – A proposed $1.9 trillion coronavirus relief stimulus package from President-elect Joe Biden may prove a double-edged sword for
Parler urges federal judge to order Amazon to restore its platform
Parler on Thursday urged a US judge to order Amazon to restore the company’s account, saying Amazon had no evidence the social media platform was used to incite last week’s storming of the Capitol. At a hearing in Seattle federal court, Parler’s
Petco valued at over $5B after Nasdaq debut
Shares of Petco rose in their market debut on Thursday, giving the pet retailer a market capitalization of $5.69 billion. The company’s shares opened at $26, 44.4 percent above its initial public offering (IPO) price of $18 per share. Petco offered 48 million
Poshmark more than doubles its value in blockbuster Nasdaq debut
Shares of Poshmark soared more than 130 percent in their stock market debut on Thursday, valuing the online fashion marketplace at $7.15 billion, highlighting investor optimism for online shopping that has surged during the COVID-19 pandemic. Shares opened at $97.50 on
Mick Fleetwood goes same way as others with music catalog deal
Mick Fleetwood has become the latest in a series of rock musicians to cash in on their work by agreeing on Thursday to sell his back catalog to music major BMG. The deal gives BMG, owned by German media company
Powell Downplays Risk of Runaway Inflation Post-Pandemic
© Reuters. By Yasin Ebrahim Investing.com – Federal Reserve Chairman Jerome Powell said Thursday, the central bank would allow the labor market to run hot and inflation to move above its 2% target over time, reaffirming market expectations that the
Hotels want to roll out Covid-19 vaccines
Hotels want in on the nationwide vaccine rollout. The American Hotel & Lodging Association, the industry’s largest trade group representing 3.2 million rooms, sent a letter to the Biden-Harris Transition Team on Thursday asking to be included in the US’s
USPS worker learns his fate after stealing PlayStations from mail
Enlarge Image Between February and April 2020, Zoheb Deura stole “numerous packages” from the Middlebury, Conn., post office where he worked. Scott Olson/Getty Images A sticky-fingered US Postal Service worker has been sentenced for stealing video-game consoles from the mail.
Ohio AG files to block FirstEnergy $102 million payout
(Reuters) – Ohio Attorney General Dave Yost said on Thursday he filed https://www.ohioattorneygeneral.gov/Files/Briefing-Room/News-Releases/2021-01-13-YOST-PI-Motion-for-FirstEnergy-Decoupli.aspx an injunction seeking to prevent power utility FirstEnergy Corp (NYSE:). from collecting $102 million in profits via a provision in the state’s nuclear subsidy law, House Bill
Trump administration unveils rules to protect telecoms supply chain; labels China an adversary
WASHINGTON (Reuters) – The Trump administration on Thursday labeled China, Iran, Russia, Cuba and North Korea as foreign adversaries as part of a new set of rules aimed at protecting the U.S. telecoms supply chain. The rules, which implement an
Trump administration issues interim rule on secure technology transactions
WASHINGTON (Reuters) – The U.S. Commerce Department on Thursday issued interim rules aimed at the securing the nation’s communication and technology supply chain that would prohibit certain transactions with Russia, China, Iran, Venezuela, North Korea and Cuba. The rule will
Investing legend James Simons steps down as chairman of Renaissance Technologies
Legendary investor James Simons has stepped down from his role as chairman at his secretive hedge fund Renaissance Technologies. The 82-year-old Simons — a former math professor who became one of the most successful investors in history by pioneering computer-based
IMF urges continued strong fiscal, monetary support given uncertainty
WASHINGTON (Reuters) – The International Monetary Fund is urging countries to continue strong fiscal and monetary efforts to support their economies given what it sees as a ‘great deal of uncertainty’ about the risks posed by a resurgence in COVID-19
U.S. Consumer Comfort Drops to Six-Month Low on Finances Concern
© Bloomberg. Shoppers walk through NorthPark Center mall in Dallas on May 1. (Bloomberg) — A gauge of U.S. consumer sentiment dropped last week to a six-month low as Americans’ ratings of their personal finances returned to levels not seen
Trump wanted to join Parler under the name ‘Person X,’ CEO claims
President Trump considered joining Parler under a pseudonym in the months before the controversial social network went dark, its chief executive claimed in court papers. Trump had thought about moving to the Twitter-like platform — which was popular with his
Delta Air Lines laments ‘worst year in company history’ amid huge 2020 loss
Delta Air Lines reported its first annual loss in more than a decade, with CEO Ed Bastian calling 2020 “the worst year in company history.” But shares were up nearly 5 percent Thursday morning after Bastian said he expects 2021
GameStop shares soar on strong holiday sales, new board members
GameStop’s stock is on a multi-day winning streak. After surging 58 percent to close at $31.45 on Wednesday, shares of the video-game retailer are up by more than 8 percent in early trading on Thursday after the company reported strong
BlackRock easily beats estimates, now manages $8.7 trillion
If you’re looking for evidence of how the COVID pandemic ravaged the global economy in 2020, don’t look at BlackRock. The world’s largest asset manager demolished expectations for the final quarter of 2020 on Thursday and set a new record
Connecticut AG probing Amazon’s e-book business
Amazon’s lucrative e-books business is drawing scrutiny from law enforcement. Connecticut is investigating the e-tail giant for potential anti-competitive behavior in its Kindle business, the state’s attorney general William Tong said this week, with a focus on the distribution agreements
Universal Studios Japan delays Nintendo theme park opening amid COVID-19 spike
Hit the brakes on that Mario Kart. Universal Studios Japan has postponed the opening of its Super Nintendo World theme park amid a regional spike in coronavirus infections. The video game-themed attraction was supposed to welcome its first public guests
Johnson & Johnson COVID-19 vaccine generates immune response in trial
Johnson & Johnson’s coronavirus vaccine generated a lasting immune response to the deadly bug in an early-stage clinical trial, the pharmaceutical giant said. More than 90 percent of the study’s 805 participants had neutralizing antibodies offering protection against COVID-19 29
Workers file 965,000 new jobless claims as COVID-19 pressures labor market
American workers filed 965,000 applications for unemployment benefits last week — an unexpected surge as the coronavirus kept the labor market under pressure, the feds said Thursday. The latest batch of initial jobless claims brought the total reported during the
Feds request Tesla to recall 158,000 cars over display failure concerns
The feds have asked Tesla to recall about 158,000 cars over concerns that their touch-screen displays could fail after a few years. The screens pose a safety risk because they allow drivers to control several key features in Tesla’s Model
ECB debated smaller stimulus package: accounts
© Reuters. FILE PHOTO: ECB headquarters in Frankfurt FRANKFURT (Reuters) – European Central Bank policymakers debated a smaller increase in emergency bond purchases last month and were keen to emphasize that they may not spend the full quota, the accounts
France’s Le Maire: Trade detente is my priority for Biden administration
© Reuters. French PM Castex holds COVID-19 news conference By Christian Lowe PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Thursday that resolving trade sanctions was his priority with the incoming U.S. administration in order to keep
Biden to unveil plan to pump $1.5 trillion into pandemic-hit economy
By Jeff Mason and Jarrett Renshaw WILMINGTON, Del. (Reuters) – President-elect Joe Biden will unveil a stimulus package proposal on Thursday designed to jump-start the economy during the coronavirus pandemic with an economic lifeline that could exceed $1.5 trillion and