Iran FX rate seen unlikely to reverse course without revival of deal with US
Iran’s official exchange rate as of July 17 was just over 42,000 rials to the dollar. This rate, however, is subsidised by the Iranian government and reserved for humanitarian imports. Imports of other essential products use the Integrated Forex Deals...
Goldman Sachs agrees to $3.9 billion deal with Malaysia to settle criminal probe into 1MDB scandal
Copies of the Financial Daily newspaper featuring a front page report on Goldman Sachs Group Inc. are displayed for sale at a stand in Kuala Lumpur, Malaysia, on Tuesday, Dec. 18, 2018. Nadirah Zakariya | Bloomberg | Getty Images Goldman...
AP-NORC poll: Optimism fades jobs lost to virus will return
Nearly half of Americans whose families experienced a layoff during the coronavirus pandemic now believe those jobs are lost forever, a new poll shows, as temporary cutbacks give way to shuttered businesses, bankruptcies and lasting payroll cuts. It’s a sharp...
Winning Main Street trade is moving too far, too fast, PNC’s Amanda Agati says
PNC Financial’s Amanda Agati warns a winning Main Street trade may burn investors. According to the firm’s chief investment strategist, fundamentals don’t support small cap value’s recent strong run. “If you just look at things from a forward P/E [price...
July jobs report could show no progress and even reversal as virus spreads
Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II Persistently high unemployment claims show the impact of the spreading...
Mnuchin says GOP plan for unemployment extension will be based on ‘70% wage replacement’
The Republican coronavirus relief plan will extend enhanced unemployment insurance “based on approximately 70% wage replacement,” Treasury Secretary Steven Mnuchin said Thursday. The Treasury secretary also said a payroll tax holiday, which President Donald Trump has repeatedly pushed for, “won’t be...
Weekly claims turn higher as coronavirus jobs crisis inflicts more damage
The number of Americans who filed for unemployment benefits rose more than expected last week as the coronavirus pandemic inflicted more damage to the U.S. economy. The Labor Department said Thursday initial jobless claims came in at 1.416 million for...
Weekly claims turn higher as coronavirus jobs crisis adds more pain
The number of Americans who filed for unemployment benefits rose more than expected last week as the coronavirus pandemic continues to batter the U.S. economy. The Labor Department said Thursday initial jobless claims came in at 1.416 million for the...
Senate GOP, White House reach tentative $1 trillion pact to break coronavirus aid logjam
U.S. Treasury Secretary Steven Mnuchin prepares to testify before the House Small Business Committee at the U.S. Capitol on July 17, 2020 in Washington, DC. Kevin Dietsch | Getty Images Senate Republicans announced Wednesday evening that they have “reached a...
U.S. is on a collision course with a double-dip recession, economist Stephen Roach warns
Economist Stephen Roach warns V-shaped recovery mania on Wall Street is leading investors astray. According to Roach, the U.S. is on a collision course with a second dramatic downturn. “The odds of a relapse, not just the virus but in...
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