There’s a ‘huge amount of money’ returning to China in the IPO space, investor says
SINGAPORE — As tensions mount between Washington and Beijing ahead of the U.S. presidential elections in November, Stonehorn Global Partners’ Sam Le Cornu sees more Chinese firms returning home. “There’s a huge amount of money coming back home in terms...
RBC lets clients trade alongside it with new FX recommendation service
FX clients looking for recommendations with the reassurance of knowing the party making them is transacting alongside them can now do just that with a new service from RBC Capital Markets. In May, the bank introduced its active macro overlay...
Worries grow over a K-shaped economic recovery that favors the wealthy
People walk by a store going out of business along 125th street in the Harlem neighborhood of New York City, August 7, 2020. Shannon Stapleton | Reuters The story for much of the past generation has been a familiar one...
Two kids, no support system and $167 in unemployment benefits: One single mom’s plight in the age of Covid-19
Jennifer Haynes, a self-employed chef and single mother living in Rancho Cucamonga, Calif., is struggling to make ends meet after unemployment benefits abruptly stopped in July without explanation. Meanwhile, the 42-year-old is the sole provider for twin boys, one of...
Powell says low interest rates could last for years
Federal Reserve Chairman Jerome Powell, wearing a face mask, testifies before the House of Representatives Financial Services Committee during a hearing on oversight of the Treasury Department and Federal Reserve response to the outbreak of the coronavirus disease (COVID-19), on...
U.S. is still in a ‘very significant recession’ despite job gains, Fed’s Rosengren says
Job creation in August represents continued improvement in the U.S. economy but a full recovery won’t happen until the coronavirus pandemic is under control, Boston Federal Reserve President Eric Rosengren said Friday. Unemployment fell to 8.4% as nonfarm payrolls rose...
Disruptors PayPal and Square surpass Wall Street giants including Goldman Sachs in market cap
A remarkable changing of the guard is happening in finance. This week, the market capitalization of fintech payments firm Square exceeded that of Goldman Sachs, the 151-year-old investment bank, for the first time. Almost exactly two months earlier, PayPal surpassed Bank of America, the second biggest...
Stocks making the biggest moves midday: Tesla, Wayfair, Moderna & more
Niraj Shah, CEO, Wayfair Ashlee Espinal | CNBC Check out the companies making headlines in midday trading. Tesla — Tesla shares whipsawed in midday trading, trading higher by 0.5% after falling as much as 8.5% and into bear-market territory earlier...
Payrolls increase by nearly 1.4 million as the unemployment rate tumbles
Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn. The unemployment rate was by far the lowest since the coronavirus...
Chinese banks’ profits will weaken even more in the second half of 2020, says Fitch Ratings
People wait outside a Bank of China branch in Beijing on July 11, 2014. GREG BAKER | AFP | Getty Images Banks in China are likely to record greater declines in profits in the second half of this year as...
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