U.S. weekly jobless claims drop, but economic recovery still elusive
The number of Americans seeking jobless benefits fell for an eighth straight week last week, likely as some people returned to work, but claims remained at astonishingly high levels, suggesting it could take the economy a while to rebound as businesses…
Oil prices rise on higher U.S. gasoline demand, refinery runs
Oil futures rose on Thursday, erasing earlier losses, on signs U.S. gasoline demand is rising despite a big surprise build in crude inventories and worries that China’s new Hong Kong security law could result in trade sanctions.
Canada’s Huawei extradition ruling could unleash more Chinese backlash
A Canadian court ruling that could permit the extradition of a senior Huawei Technologies Co Ltd [HWT.UL] executive to the United States leaves Canada vulnerable to further retaliation from Beijing, analysts said.
U.S. major airlines roll out more options to avoid staff lay-offs
The top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company m…
New York’s Cuomo says businesses can turn away people not wearing masks
New York Governor Andrew Cuomo said he would sign an executive order on Thursday authorizing businesses to deny entry to anyone who does not wear a mask or face covering, stressing masks were critical to preventing the spread of the novel coronavirus.
Spain says it will do all it can to reverse Nissan closure, workers protest
Spain said on Thursday it would do everything possible to stop Nissan from closing its main car factory in the country as angry workers burned tyres and shouted “War” outside the Barcelona plant.
Oil prices little changed as U.S. crude, diesel stocks swell
Oil futures dipped and then bounced to trade around even on Thursday after U.S. crude and distillate inventories rose much more than expected, with traders also worried that China’s new Hong Kong security law could result in trade sanctions.
S&P 500 drifts higher on healthcare, tech lift
Wall Street’s major indexes rose on Thursday, boosted by gains in healthcare and technology stocks, as investors hoped for a swift economic recovery from a coronavirus-driven economic slump.
Citigroup looks to return some staff to NY headquarters over the summer: Bloomberg News
Citigroup Inc looks to return a small number of staff to its New York headquarters in July or possibly August, with workers reentering its London offices possibly even earlier, Chief Executive Officer Michael Corbat told Bloomberg News in an interview….
KKR to inject money into vending machine group Selecta: sources
U.S. buyout group KKR is preparing to inject funds into Swiss vending machine company Selecta, which is saddled with debts and faces a loss of business due to the coronavirus crisis, four sources close to the matter said.
