Financial news

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Investors to sue Moscow Exchange over WTI oil trading halt Investors had no opportunity to reduce or limit their risk when WTI crude oil prices plunged to negative levels Investors are preparing a class action lawsuit against Moscow Exchange over the suspension of trading in the WTI crude oil

BoJ: key interest rate unchanged; expanded the size of the coronavirus lending program Japan's central bank kept its key interest rate unchanged and expanded the size of the coronavirus lending program on Tuesday. The Policy Board of the Bank of Japan voted 8-1 to retain the interest rate at -0.1

The Fed will increase its corporate bond portfolio Federal Reserve Chairman Jerome Powell said bond purchases are 'supporting accommodative financial conditions' and that the Main Street Lending Facility will be up and running soon. The Federal Reserve announced Monday that it would begin purchasing

UK unemployment rising "faster than during the Great Depression" The number of people in the U.K. claiming job-related benefits increased by a monthly 23.3% in May to 2.8 million, according to official figures released Tuesday that likely underestimate the toll on the labour market of the

NYSE will allow market makers from 2,200 listed companies to come back this week The New York Stock Exchange will allow a limited number of market makers to return to its trading floor on Wednesday, nearly three months after closing it due to the coronavirus pandemic. More designated market makers

Deutsche Bank to create International Private Bank Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) announced today that it will combine its Wealth Management and Private & Commercial Business International units into a new International Private Bank, serving 3.4 million private, wealth and commercial

Morgan Stanley predicts V-shaped recovery of World Economy: "..steepest but also one of the shortest on record" Morgan Stanley’s economists see this recession as being “the steepest but also one of the shortest on record,” and its strategists agree there will be a V-shaped recovery. “The V-shaped

Japan tertiary industry activity declined for the third straight month Japan's tertiary industry activity declined for the third straight month in April, data from the Ministry of Economy, Trade and Industry showed on Monday. Tertiary industry activity decreased 6.0 percent month-on-month in April

China's industrial production growth accelerated, retail sales fall China's industrial production growth accelerated and retail sales decreased at a slower pace in May, data from the National Bureau of Statistics showed Monday. Industrial production grew 4.4 percent on a yearly basis in May, faster

Federal Reserve Bank of Dallas: "..we’re going to end the year with an elevated unemployment rate" Although U.S. employment will increase in the coming months, the jobless rate will remain elevated through the end of the year, said Robert Kaplan, president of the Federal Reserve Bank of Dallas

European Traders Want To Continue Working From Home As lockdowns ease across Europe, professional stock traders, many of whom were forced to work remotely for the last several months, are beginning to rethink their work-life balance in a post-corona world. Bloomberg found, in a new survey of

Michigan Consumer Sentiment is continued to improve in June After reporting a record nosedive in U.S. consumer sentiment in March and April, the University of Michigan released a report on Friday showing sentiment continued to improve in June following a modest rebound in May. The preliminary report

Facebook: internal venture capital unit and multimillion-dollar venture capital fund The company has made several successful outright acquisitions of start-ups in the past, including Instagram and WhatsApp. Six years after Facebook abandoned its internal creed of “move fast and break things,” the

U.K. economy contracts by record 20.4% GDP contracted a record 20.4% in April, the largest monthly fall on record, as businesses and workers reeled under a lockdown designed to control the coronavirus pandemic. In the three months to April, gross domestic product contracted by 10.4 per cent from the

S&P 500 and DJIA - the third consecutive session of losses Stocks slid, with the S&P 500 and Dow pointing to the third straight session of losses, following the Federal Reserve’s monetary policy decision, in which policymakers highlighted the ongoing economic concerns spurred by the coronavirus

US Jobless Claims: Decline for the tenth week in a row With businesses reopening following the coronavirus lockdown, the Labor Department released a report on Thursday showing a continued decrease in first-time claims for U.S. unemployment benefits in the week ended June 6th. The report said initial

US budget deficit rose 92 percent in May from a year earlier The U.S. government’s budget deficit rose 92% in May from a year earlier to $399 billion, as revenues plummeted and spending surged on efforts to stem the new coronavirus pandemic and the fallout from lockdowns. Federal revenues fell 25%

European stocks fell on Thursday after the Federal Reserve predicts 'long road' to recovery European stocks fell on Thursday after the Federal Reserve warned that it expected there to be a “long road” to economic recovery in the US, fueling fears about a protracted return to growth in the global

United States Department of the Treasury: "seriously looking" at more stimulus During testimony on Capitol Hill Wednesday, Mnuchin shared his perspectives about what may be included in the next stimulus bill. Mnuchin told the Senate Committee on Small Business and Entrepreneurship that he would

Fed Expects Interest Rates To Remain Near Zero Through 2022 The Fed on Wednesday announced its widely expected decision to maintain the target range for the federal funds rate at zero to 0.25 percent. The accompanying statement also reiterated that the Fed expects to maintain this target range until

Tesla (NASDAQ:TSLA) tops $1,000 for the first time Tesla shares breached the $1,000 threshold in intraday trading for the first time on Thursday. Tesla was at $996.50 in morning trading after hitting an intraday high of $1,004.82. The stock is up nearly 140% year to date. CEO Elon Musk said today

Chinese stocks fell amid falling producer prices, raising doubts about a speedy economic recovery The Shanghai Composite index fell 0.42%, while CSI 300 index shed 0.18%. Producer prices fell by more-than-expected 3.7 percent on a yearly basis after declining 3.1 percent in April, data published by

ECB draws up 'bad bank' scheme - bonds in exchange for portfolios of unpaid loans ECB President Christine Lagarde has consulted banks and EU officials about a "bad bank" scheme in recent weeks as the COVID-19 outbreak squeezes borrowers and hinders new lending. One blueprint would involve the

Nasdaq touches a new record high The stock market finished lower on Tuesday—although the Nasdaq Composite rallied to a new record high—a day after the S&P 500 turned positive for 2020 and fully recouped its losses from the selloff caused by the coronavirus pandemic. Nasdaq briefly climbed above

ECB Isabel Schnabel: "..our experience with negative interest rates was positive, and lower interest rates remains an option for the future" "Lowering interest rates remains an option for the futures," Isabel Schnabel, member of the Executive Board of the European Central Bank (ECB), said on

Job openings decreased to 5.0 million on the last business day of April The number of total separations decreased by 4.8 million to 9.9 million in April, the U.S. Bureau of Labor Statistics reported today. Jobs openings decreased in April to 5.046 million from 6.011 million in March. As stated in

Eurozone GDP declined 3.6 percent Gross domestic product declined 3.6 percent sequentially in the first quarter, but slower than the initial estimate of -3.8 percent. On a yearly basis, GDP shrank 3.1 percent, reversing previous quarter's 1 percent expansion. The first quarter rate was revised from

German Exports Fall Most Since 1950 Germany's exports declined at the sharpest pace since records began in 1950 due to the lockdown measures taken by economies across the globe, data published by Destatis revealed Tuesday: "Germany exported goods to the value of 75.7 billion euros and imported goods