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Global Stocks Rise As US and China Ease the Tensions
Global Stocks Rise As US and China Ease the Tensions
Global stocks are climbing on signs that China and the United States might avoid another bruising confrontation over trade, CNN reported.
Dow (INDU) futures were last up 230 points, or 1%, after surging more than 300 points earlier. Futures for the S&P 500 (SPX) and Nasdaq (COMP) increased 1% and 0.9%, respectively. In Europe, France’s CAC 40 and Germany’s DAX added roughly 1% in early trading.…
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Bitcoin Price Surpasses $10,000
Bitcoin Price Surpasses $10,000
Bitcoin, a cryptocurrency that does not have a central bank and has its transactions completed via blockchain – a public distributed ledger – has recently seen its value plummet, mirroring the slump of global markets amid the coronavirus pandemic, Russian Sputniknews reported.
Earlier in March, Bitcoin dropped to $4,521 alongside other falling cryptocurrencies and risk assets, mirroring the…
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US Unemployment Rises Another 3 Million
US Unemployment Rises Another 3 Million
Another three million Americans filed for unemployment benefits last week as the coronavirus pandemic continued to exact its terrible toll on the US jobs market.
More than 33 million jobless Americans have now made claims in the past seven weeks. American and British media reported,
The latest figures from the US labor department come ahead of the first official monthly report on the American…
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Business is Growing For These 14 Companies During Coronavirus Pandemic
Business is Growing For These 14 Companies During Coronavirus Pandemic
The coronavirus pandemic has been, to say the least, grim for business. Widespread layoffs and furloughs have prompted about 21% of the US labor force to file for unemployment benefits since mid-March, and economists say the United States is likely already in a recession. And even as states begin to reopen, many of the jobs that have been lost may never come back, CNN reported.
But during this…
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EU Forecasts "Recession of Historic Proportions" This Year
EU Forecasts “Recession of Historic Proportions” This Year
The European Union is bracing itself for a “recession of historic proportions” this year, with the coronavirus pandemic expected to cause a 7.4 percent drop in economic output, Euronews reported.
“Europe is experiencing an economic shock without precedent since the Great Depression,” the EU’s economy chief Paolo Gentiloni said on Wednesday.
He warned the sharp downturn poses a threat to the…
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Russian media: Oil Prices Much Higher
Russian media: Oil Prices Much Higher
The Brent crude oil price has risen to more than $32 per barrel for the first time since 14 April, according to market data and Russian Sputniknews.
Earlier in the week, oil prices dropped due to concerns about storage overcapacity and the risk of a new round in the US-China tariff war, as the global oil market is shaken by the affect of the coronavirus pandemic in recent months.
The price…
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UK Car Sales Plunge to Lowest Level Since 1946 New car registrations almost ground to a halt in April after coronavirus lockdown measures were introduced, the motor industry has said.
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Hong Kong Economy Just Had the Worst Three Months Since 1974
Hong Kong Economy Just Had the Worst Three Months Since 1974
Months of anti-government protests and the US-China trade war forced Hong Kong into its first recession in a decade last year. Now the coronavirus risks plunging the Asian financial hub into its worst-ever slump, CNN wrote.
Hong Kong’s economy shrank 8.9% in the January-to-March period compared to a year earlier, according to estimates released by the government on Monday. It’s the third…
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Tensions Between US and China Could Lead to New Tariffs
Tensions Between US and China Could Lead to New Tariffs
Rising tensions between the United States and China, the world’s two largest economies, pose a real threat to stocks, which had shot up in April as investors looked toward economic recovery. CNN reported.
What’s happening: The blame game over the coronavirus pandemic is feeding tensions between Washington and Beijing, which had put aside their two-year-old trade dispute as the pandemic plunged…
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Elon Musk Says Tesla Share Price Is Too High
Elon Musk Says Tesla Share Price Is Too High
Tesla’s chief executive, Elon Musk, said on Twitter on Friday that the company’s stock price, which had been surging in recent weeks, was “too high” in his opinion. The stock fell sharply after the post and closed 10.3 percent down.
Always volatile, the price of the company’s shares had been rising steadily since mid-March in part because investors believe Tesla is poised to lead a…
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International Airlines Could Cut 32.000 Jobs to Recover After Pandemic
International Airlines Could Cut 32.000 Jobs to Recover After Pandemic
International airlines are starting the painful process of scaling back their businesses as the prospect of a quick recovery from the coronavirus pandemic fades and carriers prepare for a world where people fly much less.
This week alone, Europe’s top airlines said they would have to shed tens of thousands of jobs as they race to slash costs because of the rapidly deteriorating medium-term…
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France and Italy in Recession as Spain Sees Record GDP Decline
France and Italy in Recession as Spain Sees Record GDP Decline
France and Italy entered a recession in the first three months of this year while Spain’s GDP plunged sharply, new data on COVID-19’s impact on European economies indicates, Euronews reported.
The preliminary growth figures for Europe come just a day after US authorities revealed the country’s GDP had contracted for the first time since 2014.
The European Union’s GDP decreased by 3.5 percent…
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India Film Industry Could Take 2 Years Recover After Coronavirus
India Film Industry Could Take 2 Years Recover After Coronavirus
India Film industry lost box office revenue of about $130m from March to mid-May as theatres are shut down due to lockdown, Al Jazeera reported.
Shares of India’s two largest multiplex operators, PVR and INOX Leisure, have plunged more than 40 percent from all-time highs in late February.
Brokerage Emkay also slashed its rating on both to “hold” from “buy”, saying they would suffer declines of…
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Andrew Jack, Former Star Wars Actor, Dies From Coronavirus In UK
Andrew Jack, Former Star Wars Actor, Dies From Coronavirus In UK
Andrew Jack, a former actor at Star Wars, died in Britain days ago due to the Coronavirus. This report comes days after his agent announced Andrew’s death on Wednesday. The legend actor died at the age of 76 years. It is vital to mention that Andrew jack also worked as a dialect coach. The legend died in a hospital that is in Surrey on Tuesday. His agent, Mr. Jill McCullough, confirmed his death…
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About 30.3 Million Americans Claims Unemployment Benefits
About 30.3 Million Americans Claims Unemployment Benefits
The total number of first-time claims to 30.3 million over the past six weeks — representing roughly 18.6% of the US labor force — as businesses have laid off and furloughed workers during stay-at-home orders across the country, CNN reported.
First-time claims for unemployment benefits totaled 3.8 million in the week ending April 25, after factoring in seasonal adjustments, the US Department of…
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Eurozone Economy Shrinks at Record Rate
Eurozone Economy Shrinks at Record Rate
The Eurozone economy shrank at the sharpest pace on record in the first quarter as the Covid-19 pandemic forced countries into lockdown, BBC reported.
European Central Bank (ECB) President Christine Lagarde said that a sharp downturn in eurozone economic activity in April “suggests that the impact [of the pandemic] is likely to be even more severe in the second quarter.”
She warned that eurozone…
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