U.S. weekly jobless benefits to stay elevated as coronavirus layoffs widen
The global novel coronavirus crisis continues to batter the U.S. labor market, with millions more Americans, including white collar workers, expected to have filed for unemployment benefits last week as the hit from the pandemic spills over into a broa…
Asian stocks drop as virus recovery begins to look distant
Asia’s stock markets fell and gold hit a one-week high on Thursday as worries about a second wave of coronavirus infections and a dour assessment of the way back from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.
Fast Retailing reopens more Uniqlo stores as pandemic measures ease
Casual clothing chain Uniqlo has reopened more stores in the past week and plans to resume business at more shops in coming days as governments ease coronavirus restrictions, its owner Fast Retailing said on Thursday.
Asian stocks set to slide on U.S. Fed fears, interest rate stance
Asian equities were set to slump on Thursday after the head of the Federal Reserve warned of a “significantly worse” U.S. recession than any downturn since World War Two because of coronavirus pandemic fallout, sentiments that drove bonds higher on a s…
United Airlines employee files class action lawsuit over unpaid days off policy
A United Airlines Holdings Inc non-union employee filed a class action lawsuit on Wednesday alleging that a requirement that management and administration employees take 20 unpaid days off breaches the terms of federal payroll aid.
All eyes on Detroit as automakers ready slow, careful reopening of plants
The U.S. factories that make Fords, Chevys and Jeeps are coming back to life this week as workers install new safety equipment and wake up machines ahead of the high-stakes restart the Detroit automakers plan to launch on Monday.
U.S. March, April job losses revised higher
The U.S. economy lost a record 20.537 million jobs in April and not 20.5 million as reported last Friday, according to revised data published by the Labor Department this week.
Sanofi to accelerate European COVID-19 vaccine access after CEO prioritizes U.S. preorders
French drugmaker Sanofi SA said on Wednesday that it is working with European regulators to speed up access to a potential coronavirus vaccine in Europe after its chief executive suggested Americans would likely get the vaccine first.
Brazil’s Gol values Boeing’s 737 MAX compensation at up to $412 million
Brazil airline Gol Linhas Aereas Inteligentes said on Wednesday it will receive up to 2.4 billion reais ($412 million) from Boeing Co as compensation for the grounding of the 737 MAX plane, in a mix of cash and credits.
Less than zero? Fed’s Powell shows no love for negative rates
Federal Reserve Chair Jerome Powell had a clear message to interest rate futures traders on Wednesday: Bets that the U.S. central bank will pursue a negative interest-rate policy are off-base.
