He was stuck in unemployment ‘limbo’ for four months. Then came $23,000 in benefits
Robert Federico waited more than four months for his unemployment benefits to arrive. In the end, the payout was more than $23,000. But he endured financial hardship in the interim. Robert Federico Robert Federico’s situation was bleak — dire, even,...
Yields Surged, Gold Corrected, But Dollar Got No Lift
It was a rather mixed week where there were conditions for a Dollar rebound, with surging treasury yield and correction in Gold. Yet, no apparent rally was seen. Yen was sold off generally, partly on coronavirus and recovery optimism. But...
Weekly Economic and Financial Commentary: After Strong Initial Rebound, Momentum is Slowing
U.S. Review After Strong Initial Rebound, Momentum is Slowing The economic recovery continued into July, though the pace is slowing. The consumer has been a bright spot in the recovery so far, but with jobless benefits in flux and no...
Jarden and Credit Suisse go their separate ways in Australia
Credit Suisse Australia and Jarden call time on their strategic partnership A 30-year alliance came to an inevitable end on Friday when Credit Suisse Australia and Jarden exited their strategic partnership. As Euromoney reported in our feature this week, the...
The Weekly Bottom Line: Markets Optimistic Despite No Deal Yet from Washington
U.S. Highlights Markets were in a good mood overall this week, despite no deal in Congress on the next round of assistance. The big political news was Biden’s historic VP pick. With 81 days until the election, the race is...
Forward Guidance: Economic Rebound Continues, But Pace to Slow
Rising household demand continued to drive the economic recovery in June after an initial 4.5% bounce back in GDP in May. Statistics Canada already provided an advance estimate that retail sales rose another 24.5% in June. That would leave sales...
Week Ahead: Hot Summer Days Cooling Down the Markets
It’s hot outside! And although the coronavirus is still running rampant, it seems as if traders are still taking holidays. It was a slow, monotonous week, and we may see more of this heading into the end of summer. There...
Americans keep buying stuff despite the pandemic — retail sales rise for a third straight month
Consumers spent less than expected in July as a pullback in auto sales helped cool an economy struggling to shake off the effects of the coronavirus pandemic. Retail sales rose 1.2% for the month, against the expected increase of 2.3%...
Bernie Madoff’s brother, co-conspirator Peter Madoff, released from federal custody
Peter Madoff in 2002. Getty Images The younger brother of infamous financier and Ponzi swindler Bernard Madoff was released from federal custody on Thursday after serving about nine years of a 10-year sentence. The Federal Bureau of Prisons confirmed in an...
Retail sales bounced to an all-time high, but lack of stimulus from Congress puts gains at risk
Keith Cunningham from South Carolina shops for Walt Disney apparel at the Bargain World gift shop located near Walt Disney World where its conducting a phased reopening from coronavirus disease (COVID-19) restrictions in Lake Buena Vista, Florida, July 11, 2020....
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