Financial news - page 5

European hedge fund and trading groups call for short selling ban to be lifted Europe’s trading and hedge fund firms are calling for a removal of the temporary short selling bans issued in several countries from March, in response to the market volatility triggered by the coronavirus pandemic. The
China's Industrial Output Returns to Growth After Coronavirus Collapse China's industrial output returned to growth for the first time this year in April, official data showed Friday, as the country continued its gradual recovery after the coronavirus brought activity to a near-halt. Industrial
With Another $3 Trillion Stimulus Package On The Line, Here’s Everything The Government Has Done To Rescue The Economy So Far With job losses caused by the coronavirus pandemic reaching more than 36 million in just two months, the economy is in uncharted territory. Businesses across the country are
U.S. bank regulators modify key leverage ratio for some banks Federal banking regulators temporarily modify their supplementary leverage ratio rule to provide flexibility to certain banks. The financial institutions are allowed to choose to exclude U.S. Treasury securities and deposits at Federal
Retail Wipeout: Sales Plunge A Record 16.4% In April In a historic collapse, retail spending in the U.S. nosedived again last month, dropping a record 16.4% as people avoided restaurants, bars, stores and malls during the coronavirus pandemic. Retail sales are a major part of the economy, which has
German Economy Shrinks Most Since 2009 In Q1, Enters Recession The German economy contracted at the fastest pace since the global financial crisis in 2008-09 in the first quarter, as the nationwide lockdown to contain the coronavirus spread weighed on consumption and overseas demand, pushing the
New York Stock Exchange Will Partially Reopen After Memorial Day The New York Stock Exchange has been limited to electronic trading since March 23 after two people in the building tested positive for COVID-19. Two months after shutting down due to the coronavirus, the New York Stock Exchange will
Saudi Aramco cuts June crude allocation to some Asian buyers Saudi Aramco, the world’s largest oil exporter, has cut the volume of crude it will supply to at least three buyers in Asia by 10%-30% for June, three sources with knowledge of the matter said on Thursday. The cuts were made against
Bank of Canada warns of excess business, household debt from COVID-19 The Bank of Canada says there are signs in the country's financial markets that suggest concern about the ability of companies to weather the COVID-19 economic crisis. The central bank has spent the last two months making a flurry
U.S. Jobless Claims Drop Less Than Expected, Top 36 Million Since Shutdown While the Labor Department released a report on Thursday showing a continued decline in first-time claims for U.S. unemployment benefits in the week ended May 9th, the number of new claims still came in well above economist
European stocks drop after Fed warns of slow coronavirus recovery European stock markets fell on Thursday, as hopes for a quick recovery from coronavirus faded after the head of the US central bank warned of long-term damage to the world’s biggest economy. London’s FTSE 100 dropped 2.3 per cent
Goldman Sachs says a second wave of coronavirus could make the Fed rethink negative interest rates Federal Reserve Chairman Jerome Powell on Wednesday reiterated that the central bank is not considering negative interest rates. A second wave of coronavirus that causes another “big setback” in the
New Zealand unveils record spending to stop massive job losses New Zealand unveiled a record NZ$50 billion ($30 billion) spending package on Thursday to revive an economy hit by the coronavirus pandemic, but warned it may not be enough to stop thousands from losing jobs and businesses shutting. The
Australia: Almost 600,000 people lost work in April Australia has suffered its single largest monthly fall in the number of people holding a job, with a record 594,000 drop in the number of workers during April. Figures released by the Australian Bureau of Statistics on Thursday showed the
UK Economy To Shrink 25-30% In Q2: NIESR The United Kingdom is set to witness a collapse in its gross domestic product in the second quarter due to the lockdown imposed to slow the spread of the coronavirus, or Covid-19, pandemic, the National Institute for Economic And Social Research predicted on
Traders reduce bets on negative U.S. rates after Powell says Fed not considering Traders of short-term U.S. interest-rate futures on Wednesday reduced bets the Federal Reserve will take the unprecedented step of pushing interest rates below zero after Fed Chair Jerome Powell said that negative
Fed Chair Powell: US economy faces 'longer-term concerns' Federal Reserve Chairman Jerome Powell said the central bank would continue to use its policy tools to mitigate the impact of the novel coronavirus on the U.S. economy, but warned that the length of the health crisis raises “longer-term
Eurozone Industrial Production Falls Sharply In March Eurozone industrial production decreased sharply in March, as several countries went into lockdown to slow the spread of the coronavirus, or Covid-19, pandemic, preliminary data from Eurostat showed on Wednesday. Industrial production decreased
U.K. GDP drops 2% in first quarter in worst fall since financial crisis U.K. GDP fell 2% in the first quarter, the Office for National Statistics said, which was the worst performance since the financial crisis in 2008. The 2% decline did however beat economist estimates for a 2.6% drop. "With the
New Zealand Expands QE, Maintains Key Rate New Zealand's central bank decided to expand its asset purchase programme to reduce the cost of borrowing as coronavirus, or Covid-19, pandemic is set to lower growth, employment and inflation. The Monetary Policy Committee of the Reserve Bank of New
U.S. Consumer Prices Decrease In Line With Estimates In April Consumer prices in the U.S. decreased in line with economist estimates in the month of April, according to a report released by the Labor Department on Tuesday. The Labor Department said its consumer price index slid by 0.8 percent in
BoE's Broadbent Says Negative Rates Possible After Considering Risks Bank of England is likely to consider more monetary easing in future after weighing the side-effects of negative interest rates, to help the UK economy recover from the historic shock dealt by the coronavirus, or Covid-19
Australia NAB Business Conditions Weaken In April Australia's business conditions weakened in April but confidence bounced back from March, survey results from National Australia Bank showed Tuesday. The business conditions index fell to -34 in April from -22 in March. Overall conditions were deeply
China Inflation Slows To 7-Month Low; Producer Prices Fall At Faster Pace China's consumer price inflation eased to a seven-month low in April and producer prices declined further reflecting weak domestic demand despite subsiding coronavirus pandemic, official data revealed Tuesday. Consumer price
Dow falls 150 points on reopening doubts, but big tech stocks are strong Stocks fell on Monday, giving back some of last week’s solid gains, amid jitters about reopening the economy too soon. The Dow Jones Industrial Average traded 150 points lower, or 0.6%. The S&P 500 dropped 0.3%. The Nasdaq
Dollar Strengthens at Start of Fresh Week Global cases of Covid-19 now exceed 4.2 million and have resulted in 284,156 confirmed deaths. A third of the cases have been found in the United States, but the push to reopen the country on a uneven and gradual basis has continuing momentum. Overnight
New Zealand ANZ Business Confidence Strengthens In May New Zealand business confidence improved strongly in May as the economy emerges from lockdown, a preliminary business outlook survey from ANZ showed Tuesday. The business confidence index surged 21 points to -45.6 in May from -66.6 in April. The
US May-June Unemployment Rate May Exceed 20% White House economic adviser Kevin Hassett expects the unemployment rate to climb past 20% due to the economic fallout from the coronavirus pandemic, predicting that May or June will be the high point for job losses. "Right now, looking across the U.S
With Economy So Bad, Why Are Stocks Up? People expect stocks to rise if the economy is improving and drop if it’s getting worse. But that idea is wrong. So rather than feel confused because stocks are going up as the economy plunges into Great Depression territory, I keep investing in stock index
Wall Street Week Ahead: retail sales, industrial production, evidence and expectations, and more A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in